Corby Spirit and Wine (TSE:CSW.A) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Corby Spirit and Wine Ltd (TSE:CSW.A) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$15.41 and traded as high as C$15.78. Corby Spirit and Wine shares last traded at C$15.70, with a volume of 8,434 shares changing hands.

Analyst Ratings Changes

Separately, Acumen Capital set a C$22.00 price target on Corby Spirit and Wine and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Corby Spirit and Wine presently has an average rating of “Buy” and an average target price of C$22.00.

Corby Spirit and Wine Stock Performance

The company has a debt-to-equity ratio of 77.55, a quick ratio of 1.77 and a current ratio of 2.34. The firm’s 50 day moving average is C$15.41 and its 200-day moving average is C$14.81. The stock has a market capitalization of C$446.96 million, a price-to-earnings ratio of 13.53 and a beta of 0.17.

Corby Spirit and Wine (TSE:CSW.A) last released its quarterly earnings results on Thursday, May 14th. The company reported C$0.27 EPS for the quarter. The company had revenue of C$58.27 million for the quarter. Corby Spirit and Wine had a net margin of 10.41% and a return on equity of 13.22%. Analysts forecast that Corby Spirit and Wine Ltd will post 0.99 earnings per share for the current fiscal year.

Corby Spirit and Wine Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Corby Spirit and Wine’s dividend payout ratio is presently 80.17%.

About Corby Spirit and Wine

Corby Spirit and Wine Ltd is a Canadian manufacturer, marketer and importer of spirits and wines. The company derives its revenues from the sale of its owned-brands in Canada and other international markets, as well as earning commissions from the representation of selected non-owned brands in the Canadian marketplace. The company also supplements these primary sources of revenue with other ancillary activities incidental to its core business, such as logistics fees. The company has two reportable segments: Case Goods and Commissions.