Escalade (NASDAQ:ESCA) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• The stock price of Escalade, Incorporated (NASDAQ:ESCA) has fallen below its two hundred day moving average of $14.07, hitting a low of $12.25 during recent trading.
• Escalade reported a quarterly earnings miss, with an EPS of $0.13 compared to the consensus estimate of $0.23, and revenue also fell short at $54.33 million.
• The company declared a quarterly dividend of $0.15 to be paid on October 13th, marking an annualized dividend yield of 4.8%.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.07 and traded as low as $12.25. Escalade shares last traded at $12.55, with a volume of 19,324 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Escalade from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th.

Escalade Trading Up 1.2%

The company has a quick ratio of 1.79, a current ratio of 4.15 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $173.19 million, a price-to-earnings ratio of 13.79 and a beta of 0.67. The business has a 50-day moving average of $12.76 and a two-hundred day moving average of $14.07.

Escalade (NASDAQ:ESCA - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Escalade had a net margin of 5.30% and a return on equity of 6.86%. The firm had revenue of $54.33 million during the quarter, compared to analyst estimates of $60.03 million. Research analysts predict that Escalade, Incorporated will post 0.93 EPS for the current fiscal year.

Escalade Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Investors of record on Monday, October 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, October 6th. Escalade's dividend payout ratio (DPR) is 65.93%.

Hedge Funds Weigh In On Escalade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rehmann Capital Advisory Group acquired a new stake in shares of Escalade during the 1st quarter valued at about $4,731,000. Ritholtz Wealth Management bought a new position in Escalade during the first quarter worth about $305,000. Bank of America Corp DE boosted its holdings in Escalade by 17.0% during the fourth quarter. Bank of America Corp DE now owns 17,269 shares of the company's stock valued at $247,000 after purchasing an additional 2,510 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Escalade by 149.7% in the 4th quarter. Deutsche Bank AG now owns 13,221 shares of the company's stock valued at $189,000 after purchasing an additional 7,927 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Escalade by 27,223.8% in the 1st quarter. GAMMA Investing LLC now owns 5,738 shares of the company's stock valued at $88,000 after purchasing an additional 5,717 shares during the period. 65.22% of the stock is owned by institutional investors.

About Escalade

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.