High Liner Foods Inc (TSE:HLF) to Post Fiscal 2022 Earnings of $1.74 Per Share, Cormark Forecasts

High Liner Foods Inc (TSE:HLF – Get Rating) – Equity researchers at Cormark have raised their fiscal 2022 earnings per share (EPS) estimates for High Liner Foods in a report released Thursday, August 11. Cormark analyst K. Mcphee now expects the company to post earnings of $1.74 per share for the year, up from its previous forecast of $1.73. The consensus estimate for High Liner Foods’ current annual earnings is $1.94 per share. Cormark also released earnings estimates for High Liner Foods for fiscal 2023 at $2.14 EPS.

A number of other stock analysts also weighed in on the company. Clarus Securities reissued a “buy” rating and set a price target of C$26.50 on shares of High Liner Foods in a Wednesday, May 25 research note. Royal Bank of Canada raised its target price on High Liner Foods from C$13.00 to C$14.00 and gave the company an “industry performance” rating in a research report on Thursday. Scotiabank raised its target price on High Liner Foods from C$14.00 to C$16.00 in a research report on Thursday. Finally, BMO Capital Markets downgraded High Liner Foods from an “outperform” rating to a “market performance” rating and reduced its target price for the business from CA$16.00 to CA$13.00 in a research report from Thursday, May 5.

High Liner Food Inventory Performance

TSE HLF opened at C$13.96 on Friday. The stock’s fifty-day moving average is C$12.15 and its two-hundred-day moving average is C$12.59. The company has a market capitalization of C$465.05 million and a P/E ratio of 9.83. The company has a debt ratio of 84.25, a quick ratio of 0.66 and a current ratio of 2.22. High Liner Foods has a fifty-two week minimum of C$10.77 and a fifty-two week maximum of C$15.45.

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High Liner Foods (TSE:HLF – Get Rating) last released quarterly earnings data on Wednesday, May 11. The company reported earnings per share of CA$0.54 for the quarter. The company posted revenue of C$373.35 million for the quarter, compared to analyst estimates of C$355.85 million.

High Liner Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Thursday, September 1 will receive a dividend of $0.10. The ex-date of this dividend is Wednesday, August 31. This represents a dividend of $0.40 on an annualized basis and a yield of 2.87%. High Liner Foods’ dividend payout ratio is currently 19.04%.

Insider Activity at High Liner Foods

Separately, insider High Liner Foods Incorporated acquired 8,294 shares of the company in a trade that took place on Friday, June 24. The shares were purchased at an average price of CA$12.48 per share, for a total transaction of CA$103,485.90. Following the acquisition, the insider now owns 8,294 shares of the company, valued at C$103,485.90. Over the past 90 days, insiders have purchased 78,892 shares of the company worth $973,561.

High Liner Foods Company Profile

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High Liner Foods is North America’s leading processor and marketer of value-added frozen seafood. Their branded retail products are sold in the United States, Canada and Mexico under the High Liner, Fisher Boy, Sea Cuisine and C. Wirthy & Co labels, and are available at most grocery stores and clubs.

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