High Liner Foods (TSE:HLF) Issues Quarterly Earnings Results

High Liner Foods (TSE:HLF) released its earnings results on Wednesday. The company reported C$0.98 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$410.43 million for the quarter. High Liner Foods had a return on equity of 6.30% and a net margin of 2.30%.

High Liner Foods Trading Down 0.3%

Shares of HLF opened at C$26.88 on Friday. High Liner Foods has a 1-year low of C$13.13 and a 1-year high of C$27.12. The company has a 50-day moving average of C$17.88 and a 200 day moving average of C$15.63. The firm has a market capitalization of C$752.77 million, a price-to-earnings ratio of 30.55 and a beta of 0.84. The company has a debt-to-equity ratio of 80.12, a current ratio of 2.29 and a quick ratio of 0.38.

High Liner Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th were paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 1st. High Liner Foods’s dividend payout ratio (DPR) is currently 57.23%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. RBC Dominion Securities raised their target price on shares of High Liner Foods from C$18.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 27th. Ventum Capital set a C$16.50 price objective on shares of High Liner Foods and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. ATB Cormark Capital Markets cut High Liner Foods from a “speculative buy” rating to a “tender” rating and upped their target price for the company from C$21.00 to C$27.00 in a research note on Tuesday, October 27th. Raymond James Financial raised their price target on High Liner Foods from C$16.50 to C$27.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 27th. Finally, Ventum boosted their price objective on High Liner Foods from C$16.50 to C$27.00 and gave the company a “neutral” rating in a report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$22.29.

High Liner Foods Company Profile

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. They also sell branded products under the High Liner, Icelandic Seafood, and FPI labels to restaurants and institutions, and are a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.