High Liner Foods (TSE:HLF) Hits New 1-Year Low After Analyst Downgrade

Posted by Defense World Staff on Aug 15th, 2023

Shares of High Liner Foods Inc (TSE:HLF – Get Free Report) hit a new 52-week low during trading on Monday after Royal Bank of Canada lowered their price target on the stock from C$17.00 to C$15.00. Royal Bank of Canada currently has a sector perform rating on the stock. High Liner Foods traded as low as C$12.08 and last traded at C$12.56, with a volume of 10341 shares changing hands. The stock had previously closed at C$12.54.

Separately, Cormark cut their price target on High Liner Foods from C$25.00 to C$21.00 in a report on Friday.

Read Our Latest Stock Analysis on High Liner Foods

Insider Activity at High Liner Foods

In other news, insider High Liner Foods Incorporated purchased 3,700 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of C$12.52 per share, for a total transaction of C$46,315.12. 39.60% of the stock is owned by corporate insiders.

High Liner Foods Trading Up 0.1 %

The firm has a market capitalization of C$418.67 million, a price-to-earnings ratio of 6.18 and a beta of 0.60. The company has a debt-to-equity ratio of 87.75, a quick ratio of 0.38 and a current ratio of 2.13. The company has a 50-day moving average price of C$13.99 and a 200-day moving average price of C$14.46.

High Liner Foods (TSE:HLF – Get Free Report) last issued its earnings results on Tuesday, May 16th. The company reported C$0.64 earnings per share for the quarter, topping the consensus estimate of C$0.61 by C$0.03. High Liner Foods had a return on equity of 10.87% and a net margin of 3.70%. The business had revenue of C$445.13 million for the quarter, compared to analyst estimates of C$399.06 million. As a group, research analysts forecast that High Liner Foods Inc will post 1.8433824 EPS for the current fiscal year.

High Liner Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.52 annualized dividend and a yield of 4.14%. High Liner Foods’s dividend payout ratio is currently 25.62%.

About High Liner Foods

(Get Free Report)

High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. Their retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co labels, and are available in most grocery and club stores.