Rogers Sugar: In a sweet spot after results beat

Rogers Sugar

27/11/2020 15:55

** Canadian sugar processor's shares  RSI.TO  rise as much
as 2.2% to more than one-year high of C$5.58; Stock set to gain
for fifth straight session
    ** Reports better-than-expected Q4 revenue and profit,
helped by a 14% increase in sugar shipments  urn:newsml:reuters.com:*:nGNX9P9QTq
    ** RSI sees FY 2021 sugar sales volumes to increase by about
5,000 metric tonnes to about 766,000 metric tonnes, with a
moderate improvement in FY adj EBITDA  
    ** Several brokerages, including Scotiabank, National Bank
of Canada, TD securities and BMO, raise PT to as high as C$6,
following RSI's quarterly results
    ** "We believe there is a significant amount of conservatism
built into that (EBITDA) guidance; we are looking for ~10% y/y
growth," says Scotiabank analyst George Doumet, reaffirming his
"sector perform" rating on RSI
    ** Four of five brokerages rate the stock "hold", and one
"buy"; Median PT C$5.50 - Refinitiv data
    ** RSI declares quarterly dividend of C$0.09/shr, to be paid
to shareholders of record on Dec 30 on or before Jan 21
    ** YTD, the stock has gained about 13%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((Ankit.Ajmera@thomsonreuters.com))