discoverIE Group (LON:DSCV) Reaches New 52-Week Low – Here’s Why

discoverIE Group plc (LON:DSCV)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as GBX 561 ($7.09) and last traded at GBX 565 ($7.14), with a volume of 29256 shares changing hands. The stock had previously closed at GBX 572 ($7.23).

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DSCV shares. Shore Capital restated a “hold” rating on shares of discoverIE Group in a research report on Thursday, January 30th. Berenberg Bank restated a “buy” rating and issued a GBX 950 ($12.00) price objective on shares of discoverIE Group in a report on Monday, December 9th.

discoverIE Group Stock Performance

The company has a market cap of £549.59 million, a P/E ratio of 35.42 and a beta of 1.09. The business has a 50 day moving average price of GBX 657.12 and a two-hundred day moving average price of GBX 646.50. The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55.

discoverIE Group (LON:DSCV) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported GBX 18.40 ($0.23) earnings per share for the quarter. discoverIE Group had a return on equity of 5.10% and a net margin of 3.55%. On average, sell-side analysts anticipate that discoverIE Group plc will post 37.5 earnings per share for the current year.

discoverIE Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 24th. Shareholders of record on Thursday, December 12th were given a dividend of GBX 3.90 ($0.05) per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a yield of 0.62%. discoverIE Group’s payout ratio is currently 74.95%.

Insiders Place Their Bets

In other discoverIE Group news, insider Clive Watson bought 175 shares of discoverIE Group stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average cost of GBX 608 ($7.68) per share, with a total value of £1,064 ($1,344.28). Insiders own 4.50% of the company’s stock.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.