FY2024 Earnings Estimate for SunOpta Issued By William Blair

SunOpta Inc. (NASDAQ:STKL - Free Report) TSE: SOY - Equities researchers at William Blair dropped their FY2024 earnings estimates for SunOpta in a note issued to investors on Tuesday, November 5th. William Blair analyst J. Andersen now anticipates that the company will post earnings per share of $0.11 for the year, down from their prior estimate of $0.12. The consensus estimate for SunOpta's current full-year earnings is $0.14 per share.

A number of other equities analysts have also recently commented on the stock. Stephens lifted their target price on shares of SunOpta from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Wednesday. DA Davidson reaffirmed a "buy" rating and issued a $9.00 target price on shares of SunOpta in a report on Thursday, October 10th. Finally, StockNews.com cut shares of SunOpta from a "hold" rating to a "sell" rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SunOpta currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

SunOpta Stock Performance

Shares of SunOpta stock traded down $0.16 during trading on Friday, reaching $7.29. The company's stock had a trading volume of 674,472 shares, compared to its average volume of 811,304. The company has a 50-day moving average price of $6.30 and a two-hundred day moving average price of $5.89. The firm has a market cap of $870.79 million, a PE ratio of -40.55 and a beta of 1.83. SunOpta has a fifty-two week low of $3.85 and a fifty-two week high of $7.59. The company has a current ratio of 1.20, a quick ratio of 0.61 and a debt-to-equity ratio of 1.61.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its earnings results on Tuesday, November 5th. The company reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The business had revenue of $176.22 million for the quarter, compared to analysts' expectations of $172.30 million. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%.

Hedge Funds Weigh In On SunOpta

A number of hedge funds and other institutional investors have recently bought and sold shares of STKL. BNP Paribas Financial Markets grew its position in SunOpta by 86.6% in the 1st quarter. BNP Paribas Financial Markets now owns 77,955 shares of the company's stock valued at $536,000 after buying an additional 36,172 shares during the last quarter. Heartland Advisors Inc. boosted its position in shares of SunOpta by 11.1% during the 1st quarter. Heartland Advisors Inc. now owns 500,000 shares of the company's stock worth $3,435,000 after purchasing an additional 50,000 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of SunOpta by 13.6% during the 1st quarter. Tectonic Advisors LLC now owns 233,824 shares of the company's stock worth $1,606,000 after purchasing an additional 27,908 shares in the last quarter. Quantum Private Wealth LLC boosted its position in shares of SunOpta by 17.6% during the 1st quarter. Quantum Private Wealth LLC now owns 66,673 shares of the company's stock worth $458,000 after purchasing an additional 10,000 shares in the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of SunOpta during the 1st quarter worth $211,000. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

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.