Tue Sep 17 05:41:48 UTC 2024: ## Savaria Stock Soars on Upgraded Earnings Estimates and Positive Analyst Sentiment

**Montreal, Canada – September 17, 2024** – Savaria Corporation (TSE:SIS), a leading provider of accessibility solutions, saw its stock price rise on Thursday following an upgraded earnings forecast from Raymond James. The investment firm raised its Q3 2024 earnings per share (EPS) estimate for Savaria to $0.24 from $0.23, citing positive momentum in the company’s operations.

Raymond James maintains an “Outperform” rating and a $27.50 price objective on Savaria’s stock. This optimism is echoed by other analysts who have recently upgraded their price targets and ratings on the company. National Bankshares, TD Securities, Desjardins, and Stifel Nicolaus have all increased their target prices, with a consensus average rating of “Buy” and an average price target of C$24.07.

Savaria’s recent performance has been strong, exceeding analysts’ expectations in the most recent quarter. The company reported C$0.22 EPS for Q2 2024, beating the consensus estimate of C$0.20. Revenue also exceeded forecasts, reaching C$221.34 million compared to the estimated C$213.08 million.

The company has also declared a monthly dividend increase, raising the payout to $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of ∞.

Savaria continues to focus on expanding its accessibility solutions portfolio, targeting both the elderly and physically challenged populations. The company operates in two segments: Accessibility and Patient Care. Its Accessibility segment specializes in designing, manufacturing, distributing, and installing a wide range of products, including commercial and home elevators, stairlifts, platform lifts, and wheelchair lowered-floor accessible conversions.

With strong financial performance, positive analyst sentiment, and a growing market for accessibility solutions, Savaria is well-positioned to continue its upward trajectory.

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