Cormark Has Negative Forecast for Savaria FY2024 Earnings

Savaria Co. (TSE:SIS) – Investment analysts at Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Savaria in a research report issued on Monday, November 11th. Cormark analyst K. Mcphee now anticipates that the company will post earnings of $0.91 per share for the year, down from their prior forecast of $0.92. Cormark has a “Market Perform” rating on the stock. The consensus estimate for Savaria’s current full-year earnings is $1.20 per share. Cormark also issued estimates for Savaria’s FY2025 earnings at $1.15 EPS and FY2026 earnings at $1.34 EPS.

Several other brokerages also recently commented on SIS. Scotiabank set a C$25.00 price objective on shares of Savaria and gave the company an “outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus boosted their price objective on shares of Savaria from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. National Bankshares raised their target price on shares of Savaria from C$22.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Securities increased their price target on shares of Savaria from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Raymond James upped their target price on Savaria from C$25.00 to C$27.50 and gave the stock an “outperform” rating in a report on Friday, September 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$25.50.

Savaria Trading Up 0.1 %

TSE:SIS opened at C$21.87 on Thursday. The firm has a market capitalization of C$1.55 billion, a P/E ratio of 33.69, a P/E/G ratio of 42.72 and a beta of 0.90. The company has a quick ratio of 0.91, a current ratio of 1.94 and a debt-to-equity ratio of 56.50. The company has a fifty day moving average of C$21.94 and a 200 day moving average of C$19.52. Savaria has a 52 week low of C$14.05 and a 52 week high of C$23.92.

Savaria Announces Dividend

The business also recently declared a monthly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st were given a $0.045 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.47%. Savaria’s dividend payout ratio is currently 83.08%.

Insider Buying and Selling

In other Savaria news, Director Sylvain Dumoulin sold 5,000 shares of Savaria stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$22.00, for a total transaction of C$110,000.00. In other news, Senior Officer Jean-Philippe De Montigny purchased 19,545 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of C$22.96 per share, for a total transaction of C$448,753.20. Also, Director Sylvain Dumoulin sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of C$22.00, for a total transaction of C$110,000.00. Insiders have sold 50,002 shares of company stock worth $1,046,042 in the last 90 days. 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.