Cormark Has Pessimistic Outlook of TSE:SVI FY2024 Earnings

StorageVault Canada Inc. (TSE:SVI - Free Report) - Investment analysts at Cormark lowered their FY2024 earnings per share estimates for StorageVault Canada in a note issued to investors on Monday, October 28th. Cormark analyst S. Srinivas now anticipates that the company will post earnings per share of $0.20 for the year, down from their prior forecast of $0.21.

A number of other equities research analysts have also issued reports on SVI. Desjardins lowered StorageVault Canada from a "moderate buy" rating to a "hold" rating in a research report on Thursday, October 24th. National Bank Financial raised StorageVault Canada from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 17th.

StorageVault Canada Price Performance

Shares of TSE SVI remained flat at C$4.16 during mid-day trading on Wednesday. The stock had a trading volume of 303,461 shares, compared to its average volume of 268,893. The stock has a market capitalization of C$1.55 billion, a price-to-earnings ratio of -52.00 and a beta of 0.89. The firm's fifty day moving average is C$4.82 and its two-hundred day moving average is C$4.74. StorageVault Canada has a 52 week low of C$4.11 and a 52 week high of C$5.50.

StorageVault Canada (TSE:SVI - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C($0.02) EPS for the quarter, missing analysts' consensus estimates of C$0.06 by C($0.08). The business had revenue of C$78.96 million for the quarter. StorageVault Canada had a negative return on equity of 14.77% and a negative net margin of 9.49%.

StorageVault Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a $0.292 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 28.08%. The ex-dividend date of this dividend was Friday, September 27th. This is a positive change from StorageVault Canada's previous quarterly dividend of $0.29. StorageVault Canada's dividend payout ratio (DPR) is currently -12.50%.

StorageVault Canada Company Profile

StorageVault Canada Inc owns, manages, and rents self-storage and portable storage space to individual and commercial customers in Canada. It operates through three segments: Self Storage, Portable Storage, and Management Division. The company manages various stores owned by third parties; and stores, shreds, and manages documents and records for customers.