Castings (LON:CGS) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of Castings P.L.C. (LON:CGS) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 262.62 ($3.27) and traded as high as GBX 280 ($3.48). Castings shares last traded at GBX 277.60 ($3.45), with a volume of 7,382 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their target price on shares of Castings from GBX 390 ($4.85) to GBX 340 ($4.23) and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Castings Stock Performance

The company has a market cap of £121.69 million, a P/E ratio of 736.84 and a beta of 0.60. The business has a 50 day moving average price of GBX 262.62 and a two-hundred day moving average price of GBX 297.17.

Castings (LON:CGS) last announced its quarterly earnings data on Wednesday, November 13th. The company reported GBX 7.07 ($0.09) earnings per share for the quarter. Castings had a return on equity of 12.59% and a net margin of 7.45%. As a group, research analysts expect that Castings P.L.C. will post 17.2492837 EPS for the current year.

Castings Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st were issued a GBX 4.21 ($0.05) dividend. This represents a yield of 1.51%. The ex-dividend date of this dividend was Thursday, November 21st. Castings’s dividend payout ratio (DPR) is presently 4,736.84%.

Insider Activity

In other Castings news, insider Adam Vicary bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of GBX 267 ($3.32) per share, for a total transaction of £4,005 ($4,983.20). Insiders own 21.35% of the company’s stock.

About Castings

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.