George Weston (OTCMKTS:WNGRF) Share Price Crosses Below 50-Day Moving Average - Here's What Happened

Key Points

• George Weston Ltd. shares fell below their 50-day moving average of $130.96, trading as low as $60.88.
• Analysts have mixed ratings on the stock, with an average rating of "Moderate Buy" based on their recent assessments.
• In its latest quarterly earnings, George Weston reported $2.21 earnings per share, missing estimates by $0.27, while revenues were also below expectations at $10.89 billion.

George Weston Ltd. (OTCMKTS:WNGRF - Get Free Report) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $130.96 and traded as low as $60.88. George Weston shares last traded at $60.88, with a volume of 762 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WNGRF. TD Securities reaffirmed a "buy" rating on shares of George Weston in a research note on Monday, July 28th. Scotiabank restated a "sector perform" rating on shares of George Weston in a report on Thursday, August 21st. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of George Weston in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

George Weston Trading Down 1.9%

The firm has a market cap of $23.31 billion, a P/E ratio of 33.09 and a beta of 0.57. The firm's fifty day moving average is $130.96 and its two-hundred day moving average is $166.07. The company has a quick ratio of 0.77, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

George Weston (OTCMKTS:WNGRF - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.27). George Weston had a net margin of 1.67% and a return on equity of 12.84%. The company had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $14.80 billion.

George Weston Company Profile

George Weston Limited provides food and drug retailing, and financial services in Canada. The company operates through two segments, Loblaw Companies Limited (Loblaw) and Choice Properties Real Estate Investment Trust (Choice Properties). The Loblaw segment provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, and financial services.

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