TSX:RSI

Stock Analysis Report

Executive Summary

Rogers Sugar Inc., through its subsidiary, Lantic Inc., engages in refining, packaging, and marketing sugar and maple products.

Snowflake

Fundamentals

Fair value with mediocre balance sheet.

Share Price & News

How has Rogers Sugar's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.7%

RSI

0.8%

CA Food

0.2%

CA Market


1 Year Return

1.7%

RSI

-7.0%

CA Food

2.4%

CA Market

Return vs Industry: RSI exceeded the Canadian Food industry which returned -7% over the past year.

Return vs Market: RSI matched the Canadian Market which returned 2.4% over the past year.


Shareholder returns

RSIIndustryMarket
7 Day1.7%0.8%0.2%
30 Day-0.5%-5.4%-3.3%
90 Day-2.3%-4.6%-1.8%
1 Year8.3%1.7%-5.3%-7.0%6.0%2.4%
3 Year3.7%-13.4%-8.9%-13.5%14.2%4.0%
5 Year68.7%21.5%33.5%23.2%27.2%8.6%

Price Volatility Vs. Market

How volatile is Rogers Sugar's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Rogers Sugar undervalued compared to its fair value and its price relative to the market?

18.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: RSI (CA$5.49) is trading below our estimate of fair value (CA$6.76)

Significantly Below Fair Value: RSI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: RSI is good value based on its PE Ratio (13.9x) compared to the Food industry average (20x).

PE vs Market: RSI is poor value based on its PE Ratio (13.9x) compared to the Canadian market (13.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate RSI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: RSI is good value based on its PB Ratio (1.6x) compared to the CA Food industry average (1.5x).


Next Steps

Future Growth

How is Rogers Sugar forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-4.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RSI's earnings are forecast to decline over the next 3 years (-4.6% per year).

Earnings vs Market: RSI's earnings are forecast to decline over the next 3 years (-4.6% per year).

High Growth Earnings: RSI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: RSI's revenue (2.3% per year) is forecast to grow slower than the Canadian market (5.5% per year).

High Growth Revenue: RSI's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RSI's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Rogers Sugar performed over the past 5 years?

8.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: RSI's earnings have grown by 8.3% per year over the past 5 years.

Accelerating Growth: RSI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: RSI had negative earnings growth (-3.5%) over the past year, making it difficult to compare to the Food industry average (-25.4%).


Return on Equity

High ROE: RSI's Return on Equity (11.9%) is considered low.


Return on Assets

ROA vs Industry: RSI has a higher Return on Assets than the Food industry average last year.


Return on Capital Employed

ROCE Improving: RSI's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Rogers Sugar's financial position?


Financial Position Analysis

Short Term Liabilities: RSI's short term assets (CA$305.8M) exceeds its short term liabilities (CA$171.4M)

Long Term Liabilities: RSI's short term assets (305.8M) do not cover its long term liabilities (385.4M)


Debt to Equity History and Analysis

Debt Level: RSI's debt to equity ratio (100.6%) is considered high

Reducing Debt: RSI's debt to equity ratio has increased from 73.9% to 100.6% over the past 5 years.

Debt Coverage: RSI's debt is well covered by operating cash flow (21.9%).

Interest Coverage: RSI's interest payments on its debt are well covered by EBIT (4.2x coverage).


Balance Sheet

Inventory Level: RSI has a high level of physical assets or inventory.

Debt Coverage by Assets: RSI's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

What is Rogers Sugar's current dividend yield, its reliability and sustainability?

6.56%

Current Dividend Yield


Dividend Yield vs Market

company6.6%marketbottom25%2.0%markettop25%6.0%industryaverage2.0%forecastin3Years6.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: RSI's dividend (6.56%) is higher than the bottom 25% of dividend payers in the Canadian market (2.01%).

High Dividend: RSI's dividend (6.56%) is in the top 25% of dividend payers in the Canadian market (5.96%)

Stable Dividend: RSI's dividends per share have been stable in the past 10 years.

Growing Dividend: RSI's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (91.2%), RSI's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Rogers Sugar's salary, the management and board of directors tenure and is there insider trading?

6.2yrs

Average management tenure


CEO

John Holliday 0

4.4yrs

Tenure

CA$1,423,306

Compensation

Mr. John Holliday serves as President of North American Operations at GrainCorp Malt. Mr. Holliday has been Chief Executive Officer and President of Lantic Inc., at Rogers Sugar Inc. since May 1, 2015. Mr. ...


CEO Compensation Analysis

Compensation vs. Market: John's total compensation ($USD1.09M) is about average for companies of similar size in the Canadian market ($USD1.13M).

Compensation vs Earnings: John's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

6.2yrs

Average Tenure

Experienced Management: RSI's management team is seasoned and experienced (6.2 years average tenure).


Board Age and Tenure

2.7yrs

Average Tenure

60yo

Average Age

Experienced Board: RSI's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: RSI insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

BuyCA$5,85103 Oct 19
Dean Bergmame
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,106
Max PriceCA$5.29
BuyCA$11,20403 Oct 19
Donald Jewell
EntityIndividual
Shares2,120
Max PriceCA$5.29
BuyCA$9,75103 Oct 19
Michael Heskin
EntityIndividual
Shares1,845
Max PriceCA$5.29
BuyCA$5,84503 Oct 19
William Maslechko
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,106
Max PriceCA$5.29
BuyCA$5,84503 Oct 19
Gary Collins
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,106
Max PriceCA$5.29
BuyCA$5,84902 Oct 19
M. Daniel Lafrance
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,106
Max PriceCA$5.29
BuyCA$7,67601 Oct 19
M. H. Ross
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares1,452
Max PriceCA$5.29
BuyCA$63,85121 Aug 19
Douglas William Whitehead
EntityIndividual
Shares12,000
Max PriceCA$5.33
SellCA$207,61720 Aug 19
M. H. Ross
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares40,000
Max PriceCA$5.20
BuyCA$10,56015 Aug 19
Jean-Francois Khalil
EntityIndividual
Role
Other Key Executive
Vice President of Human Resources - Lantic Inc
Shares2,000
Max PriceCA$5.28
BuyCA$5,85104 Jul 19
M. Daniel Lafrance
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,043
Max PriceCA$5.61
BuyCA$7,71103 Jul 19
M. H. Ross
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares1,372
Max PriceCA$5.62
BuyCA$11,06903 Jul 19
Donald Jewell
EntityIndividual
Shares1,973
Max PriceCA$5.61
BuyCA$9,66603 Jul 19
Michael Heskin
EntityIndividual
Shares1,720
Max PriceCA$5.62
BuyCA$5,61003 Jul 19
Dean Bergmame
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceCA$5.61
BuyCA$5,85103 Jul 19
William Maslechko
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,043
Max PriceCA$5.61
BuyCA$5,85103 Jul 19
Gary Collins
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,043
Max PriceCA$5.61
BuyCA$7,68303 Apr 19
M. H. Ross
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares1,270
Max PriceCA$6.05
BuyCA$5,85002 Apr 19
Dean Bergmame
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares967
Max PriceCA$6.05
BuyCA$5,84102 Apr 19
Gary Collins
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares967
Max PriceCA$6.04
BuyCA$10,95002 Apr 19
Donald Jewell
EntityIndividual
Shares1,810
Max PriceCA$6.05
BuyCA$9,61902 Apr 19
Michael Heskin
EntityIndividual
Shares1,590
Max PriceCA$6.05
BuyCA$5,84102 Apr 19
M. Daniel Lafrance
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares967
Max PriceCA$6.04
BuyCA$5,84102 Apr 19
William Maslechko
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares967
Max PriceCA$6.04
SellCA$47,96316 Mar 19
Gary Collins
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares7,850
Max PriceCA$6.11
BuyCA$7,62007 Jan 19
M. H. Ross
EntityIndividual
Role
Chairman of the Board
Independent Chairman
Shares1,380
Max PriceCA$5.52
BuyCA$5,85304 Jan 19
M. Daniel Lafrance
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,060
Max PriceCA$5.52
BuyCA$5,85304 Jan 19
Dean Bergmame
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,060
Max PriceCA$5.52
BuyCA$5,85304 Jan 19
William Maslechko
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,060
Max PriceCA$5.52
BuyCA$9,16704 Jan 19
Michael Heskin
EntityIndividual
Shares1,660
Max PriceCA$5.52
BuyCA$10,60204 Jan 19
Donald Jewell
EntityIndividual
Shares1,920
Max PriceCA$5.52
BuyCA$5,85304 Jan 19
Gary Collins
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,060
Max PriceCA$5.52
BuyCA$27,25017 Dec 18
Michael Walton
EntityIndividual
Role
Other Key Executive
Vice President of Sales & Marketing - Lantic Inc
Shares5,000
Max PriceCA$5.45

Ownership Breakdown


Management Team

  • Manon Lacroix

    VP of Finance

    • Tenure: 6.2yrs
    • Compensation: CA$685.40k
  • Mike Walton

    Vice President of Sales & Marketing - Lantic Inc

    • Tenure: 8.5yrs
    • Compensation: CA$802.37k
  • Diana Discepola

    Director of Finance - Lantic Inc

    • Tenure: 0yrs
    • Compensation: CA$48.38k
  • Jean-Francois Khalil

    Vice President of Human Resources - Lantic Inc

    • Tenure: 0yrs
    • Compensation: CA$465.60k
  • John Holliday

    President & CEO

    • Tenure: 4.4yrs
    • Compensation: CA$1.42m
  • Patrick Dionne

    Vice President of Operations & Supply Chain - Lantic Inc

    • Tenure: 0yrs
    • Compensation: CA$579.86k

Board Members

  • Bill Maslechko (58yo)

    Independent Director

    • Tenure: 13.4yrs
    • Compensation: CA$110.63k
  • M. H. Ross (62yo)

    Independent Chairman

    • Tenure: 2.7yrs
    • Compensation: CA$140.00k
  • M. Daniel Lafrance (64yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: CA$127.25k
  • Gary Collins (55yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: CA$105.13k
  • Dean Bergmame

    Independent Director

    • Tenure: 10.5yrs
    • Compensation: CA$118.00k
  • Stephanie Wilkes

    Additional Independent Director

    • Tenure: 0.8yrs

Company Information

Rogers Sugar Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Rogers Sugar Inc.
  • Ticker: RSI
  • Exchange: TSX
  • Founded: 1997
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: CA$575.821m
  • Shares outstanding: 104.89m
  • Website: https://www.lanticrogers.com

Number of Employees


Location

  • Rogers Sugar Inc.
  • 123 Rogers Street
  • Vancouver
  • British Columbia
  • V6B 3V2
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RSITSX (The Toronto Stock Exchange)YesCommon SharesCACADOct 1998
RSGU.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDOct 1998
16RDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 1998

Biography

Rogers Sugar Inc., through its subsidiary, Lantic Inc., engages in refining, packaging, and marketing sugar and maple products. It offers granulated, plantation raw, brown, organic, icing, maple, stevia, s ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 00:14
End of Day Share Price2019/10/21 00:00
Earnings2019/06/29
Annual Earnings2018/09/29


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.