Tree Island Steel (TSE:TSL) Stock Price Breaks Below 200-Day Moving Average – What’s Next?

Shares of Tree Island Steel Ltd. (TSE:TSL) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$2.41 and traded as low as C$2.34. Tree Island Steel shares last traded at C$2.35, with a volume of 3,600 shares.

Tree Island Steel Stock Performance

The company has a debt-to-equity ratio of 28.61, a current ratio of 2.95 and a quick ratio of 1.75. The company has a market capitalization of C$60.22 million, a PE ratio of -8.63 and a beta of 0.50. The stock has a 50-day simple moving average of C$2.47 and a 200 day simple moving average of C$2.41.

Tree Island Steel (TSE:TSL) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$48.55 million during the quarter. Tree Island Steel had a negative net margin of 4.34% and a negative return on equity of 6.25%. Equities analysts anticipate that Tree Island Steel Ltd. will post 0.41 EPS for the current fiscal year.

About Tree Island Steel

Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products.