McCoy Global (TSE:MCB) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• McCoy Global Inc. has surpassed its 200-day moving average, currently trading at C$3.56, compared to the average of C$3.48.
• Beacon Securities has issued a buy rating for McCoy Global with a price target of C$5.50, reinforcing a consensus "buy" rating by analysts.
• McCoy Global recently increased its quarterly dividend to $0.025 per share, representing an annualized yield of 2.8%, up from the previous $0.02 dividend.

McCoy Global Inc. (TSE:MCB - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$3.48 and traded as high as C$3.70. McCoy Global shares last traded at C$3.56, with a volume of 39,547 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Beacon Securities set a C$5.50 price target on McCoy Global and gave the stock a "buy" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, McCoy Global has a consensus rating of "Buy" and an average price target of C$5.50.

McCoy Global Price Performance

The stock has a market cap of C$95.29 million, a PE ratio of 14.24 and a beta of 0.56. The business's 50-day simple moving average is C$3.49 and its 200-day simple moving average is C$3.48. The company has a quick ratio of 1.26, a current ratio of 3.07 and a debt-to-equity ratio of 6.05.

McCoy Global Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 2.8%. This is a boost from McCoy Global's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, June 30th. McCoy Global's payout ratio is presently 36.00%.

About McCoy Global

McCoy Global Inc is a provider of equipment and technologies to support tubular running operations, enhance wellbore integrity and assist with collecting critical data for the global energy industry. It is engaged in the design, production and distribution of capital equipment to support tubular running operations, enhance wellbore integrity and to support capital equipment sales through aftermarket products and services such as technical support, consumables and replacement parts.

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.