Castings (LON:CGS) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Castings P.L.C. (LON:CGS) passed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Castings Trading Up 3.3 %

The stock has a fifty day simple moving average of GBX 262.62 and a two-hundred day simple moving average of GBX 297.17. The firm has a market cap of £121.69 million, a PE ratio of 736.84 and a beta of 0.60.

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

Castings Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, November 21st were paid a dividend of GBX 4.21 ($0.05) per share. This represents a yield of 1.51%. The ex-dividend date was Thursday, November 21st. Castings’s dividend payout ratio is 4,736.84%.

Insiders Place Their Bets

In related news, insider Adam Vicary purchased 1,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of GBX 267 ($3.32) per share, with a total value of £4,005 ($4,983.20). Corporate insiders own 21.35% of the company’s stock.

Castings Company Profile

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.