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

Key Points

• McCoy Global Inc. has recently surpassed its 200-day moving average, achieving a high of C$3.48 and last trading at C$3.44.
• Beacon Securities has set a target price of C$5.50 for McCoy Global, maintaining a "buy" rating with consensus indicating positive growth potential.
• The company has announced an increase in its quarterly dividend to $0.025, reflecting a 2.9% yield and a payout ratio of 36%.

McCoy Global Inc. (TSE:MCB - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$3.46 and traded as high as C$3.48. McCoy Global shares last traded at C$3.44, with a volume of 33,125 shares.

Analyst Ratings Changes

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

McCoy Global Trading Up 1.2%

The stock has a market cap of C$90.20 million, a P/E ratio of 13.48 and a beta of 0.56. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.26 and a current ratio of 3.07. The stock has a 50-day moving average price of C$3.52 and a 200-day moving average price of C$3.48.

McCoy Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from McCoy Global's previous quarterly dividend of $0.02. McCoy Global's payout ratio is 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.