SunOpta (NASDAQ:STKL) Releases Earnings Results, Meets Expectations

SunOpta (NASDAQ:STKL) (TSE:SOY) released its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02, Zacks reports. The firm had revenue of $176.22 million during the quarter, compared to analyst estimates of $172.30 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. SunOpta updated its FY 2024 guidance to EPS.

SunOpta Stock Performance

STKL stock traded up $0.19 during midday trading on Thursday, hitting $7.45. The stock had a trading volume of 892,922 shares, compared to its average volume of 811,939. SunOpta has a 52 week low of $3.81 and a 52 week high of $7.59. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67. The stock has a 50-day simple moving average of $6.27 and a 200 day simple moving average of $5.88. The firm has a market capitalization of $889.90 million, a price-to-earnings ratio of -5.22 and a beta of 1.83.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stephens raised their target price on SunOpta from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com downgraded shares of SunOpta from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of SunOpta in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.