Castings (LON:CGS) Issues Quarterly Earnings Results

Castings (LON:CGS) announced its quarterly earnings results on Wednesday. The company reported GBX 3.48 earnings per share for the quarter, Digital Look Earnings reports. The company had revenue of GBX 8,595 million for the quarter. Castings had a return on equity of 5.98% and a net margin of 4.36%.

Castings Stock Performance

Shares of CGS traded up GBX 12.05 during trading hours on Thursday, hitting GBX 277.05. The stock had a trading volume of 38,581 shares, compared to its average volume of 37,447. The firm has a 50-day moving average price of GBX 282.51 and a 200 day moving average price of GBX 282.97. Castings has a fifty-two week low of GBX 202.28 and a fifty-two week high of GBX 340. The firm has a market capitalization of £120.45 million, a price-to-earnings ratio of 16.06 and a beta of 0.44. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.76 and a current ratio of 3.36.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 390 price objective on shares of Castings in a report on Wednesday. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Castings presently has a consensus rating of “Buy” and an average target price of GBX 390.

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.