FY2024 Earnings Forecast for Savaria Issued By Desjardins

Savaria Co. (TSE:SIS) – Stock analysts at Desjardins lowered their FY2024 earnings estimates for Savaria in a report issued on Monday, October 21st. Desjardins analyst F. Tremblay now anticipates that the company will earn $0.69 per share for the year, down from their prior forecast of $0.70. Desjardins currently has a “Buy” rating and a $26.00 price objective on the stock. The consensus estimate for Savaria’s current full-year earnings is $1.20 per share. Desjardins also issued estimates for Savaria’s Q4 2024 earnings at $0.19 EPS.

Savaria (TSE:SIS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.22 EPS for the quarter, topping analysts’ consensus estimates of C$0.20 by C$0.02. The business had revenue of C$221.34 million during the quarter, compared to analysts’ expectations of C$213.08 million. Savaria had a net margin of 5.25% and a return on equity of 8.95%.

SIS has been the topic of several other research reports. Scotiabank set a C$25.00 target price on shares of Savaria and gave the company an “outperform” rating in a research note on Thursday, September 26th. Raymond James upped their target price on Savaria from C$25.00 to C$27.50 and gave the company an “outperform” rating in a research note on Friday, September 13th. TD Securities raised their price target on Savaria from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. National Bankshares lifted their target price on Savaria from C$21.00 to C$22.00 in a research report on Thursday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$24.79.

Savaria Price Performance

Shares of Savaria stock opened at C$22.73 on Wednesday. The stock has a 50 day moving average price of C$21.15 and a 200-day moving average price of C$18.96. Savaria has a one year low of C$12.21 and a one year high of C$23.92. The stock has a market cap of C$1.62 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 42.72 and a beta of 0.90. The company has a debt-to-equity ratio of 56.50, a quick ratio of 0.91 and a current ratio of 1.94.

Savaria Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were paid a $0.045 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from Savaria’s previous monthly dividend of $0.04. This represents a $0.54 dividend on an annualized basis and a yield of 2.38%. Savaria’s dividend payout ratio (DPR) is currently 83.08%.

Insider Buying and Selling

In other Savaria news, Director Jean-Louis Chapdelaine sold 25,000 shares of Savaria stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$20.84, for a total transaction of C$521,000.00. In related news, Director Jean-Louis Chapdelaine sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of C$20.84, for a total value of C$521,000.00. Also, Senior Officer Sylvain Aubry sold 20,002 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$20.75, for a total value of C$415,041.50. In the last three months, insiders have sold 50,002 shares of company stock worth $1,046,042. Insiders own 17.45% of the company’s stock.

About Savaria

Savaria Corporation provides accessibility solutions for the elderly and physically challenged people in Canada, the United States, Europe, and internationally. The company operates in two segments, Accessibility and Patient Care. The Accessibility segment designs, manufactures, distributes, and installs a portfolio of accessibility products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions for selected brands of minivans, personal, residential, or commercial applications.