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Analysts give South Pacific Resources Ltd (NYSE:SPB) a “Moderate Buy” rating on average.

Analysts give South Pacific Resources Ltd (NYSE:SPB) a “Moderate Buy” rating on average.

According to the information from Bloomberg.com, all ten research firms that follow South Pacific Resources Ltd. (NYSE: SPB) have provided the company’s stock with a recommendation of “Moderate Buy.” As a result, the stock was recommended for purchase. In addition, five market analysts have given the company a recommendation to purchase it. In contrast, two market experts and one market analyst have given it the recommendation to hold it, and one market analyst has given it the recommendation to sell it. The stock was expected to reach an average price target of $78.33 over the subsequent period, as determined by brokers who had covered it during the preceding year.
Recent research publications have shifted their attention to SPB in an increasing manner. South Pacific Resources was the first company that StockNews.com covered on Wednesday, October 12, when the website published a research note on the subject as part of its coverage of the business world. They suggested “putting up for sale” some of the company’s shares. Oppenheimer decreased their target price for South Pacific Resources to $67.00 in a research report published on Thursday, October 20. South Pacific Resources was downgraded by Monness Crespi & Hardt from a “buy” recommendation to a “hold” rating in a public report on September 16. The firm also reduced its price objective from $100 to $80. In a report distributed on November 23, UBS Group lowered their price objective for South Pacific Resources from $91.00 to $84.00 and changed their rating for the company from “buy” to “hold.” Deutsche Bank Aktiengesellschaft issued a “hold” recommendation for South Pacific Resources in its most recent research note. The same report established a price objective of $70.00 for the company’s stock and recommended keeping the position. On December 6, which was a Tuesday, a report was made available to the public.
On Friday, the opening price for an individual share of SPB was $62.90. The debt-to-equity ratio is calculated to be 2.48, the current ratio is calculated to be 2.72, and the quick ratio is calculated to be 2.07. Over the previous twelve months, the price of South Pacific Resources has ranged from a low of $38.93 to a high of $103.02. The current price of South Pacific Resources is $103.02. The stock’s beta value is 1.42, and its price-to-earnings ratio, one of the factors determining its market value of $2.57 billion, is 35.94. The stock has traded at an average price of $54.81 per share over the past 50 trading days, while its price has averaged $59.06 per share over the past 200 trading days.
The earnings report for South Pacific Resources, traded on the New York Stock Exchange under the symbol SPB, was released on November 18. However, the company only reported $0.48 per share for the quarter, even though the average prediction of financial experts was for the company to report $1.04 per share for the period in question. The revenue for the quarter was reported to be $749.50 million, which was lower than the $784.19 million that analysts had anticipated would be for the quarter. South Pacific Resources had a return on equity of 4.25%, and their net margin was 2.29%. Both of these figures are percentages. Analysts of the stock market forecast that South Pacific Resources will produce earnings of $1.74 per share in 2018.
Additionally, on Tuesday, December 13, the company announced and distributed a quarterly dividend paid out to shareholders. This payment was made to shareholders. On Monday, November 28, dividend payments to stockholders whose information was already on file were sent out. The amount of each dividend payment was $0.42 per share. The ex-dividend date was this past Friday, November 25; it occurred a week ago. This results in a dividend payment of $1.68 annually and a dividend yield of 2.67% when calculated annually. South Pacific Resources has succeeded in achieving a payout ratio of 96.0 percent.
There has been a shift in the percentage of the company owned by various institutional investors. This change came about as a result of the shift. Pinebridge Investments L.P. increased its ownership of South Pacific Resources by 233.0% compared to the level it had at the end of the previous quarter during the second quarter. After the allotted amount of time had passed, Pinebridge Investments L.P. had the opportunity to purchase an additional 233 shares of the company. This brought the total number of shares that the company owned up to 333, each of which had a value of $27,000. Through January, February, and March of 2018, Captrust Financial Advisors increased the proportion of South Pacific Resources owned by 31.7%. The most recent quarter saw Captrust Financial Advisors acquire an additional 121 shares of the company’s stock, bringing the total number of shares directly owned by the firm to 503, with a value of $45,000. This brings the firm’s total number of directly owned shares to a cumulative total of 503. During the third quarter of the fiscal year, CWM LLC achieved an 844.7% increase in the percentage ownership it held in South Pacific Resources. CWM LLC has taken direct ownership of 803 shares of the company’s stock, which have a combined value of $31,000. This represents an increase of 718 shares purchased during the most recent quarter of the company’s existence. In addition, Benjamin F. Edwards & Company Inc. spent $33,000 during the third quarter to acquire an additional stake in South Pacific Resources. The transaction took place during the third quarter. And finally, during the first quarter of this year, MetLife Investment Management LLC added 1,012.7 percent more South Pacific Resources to its holdings, bringing the total amount to 1,012.7 million dollars. MetLife Investment Management LLC now holds 879 shares of the company’s stock, which have a value of $78,000 due to purchasing an additional 800 shares during the most recent fiscal quarter. These shares were acquired due to the purchase of an additional 800 during the most recent fiscal quarter. Various types of institutional investors own a total of 95.33 percent of the company’s shares.
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