Melcor Developments (TSE:MRD) Reaches New 12-Month High - Should You Buy?

Key Points

• 52-week high: Melcor Developments (TSE:MRD) traded as high as C$18.50 (last C$18.22) on Monday with 5,555 shares changing hands; the stock's 50- and 200-day moving averages are C$17.22 and C$15.85 and market cap is C$547.6M.
• Quarterly results & valuation: The company reported quarterly EPS of C$1.05 on revenue of C$187.12M (net margin 14.13%, ROE 4.65%), analysts forecast ~2.36 EPS for the year, and the stock trades at a P/E of 9.54.
• Dividend increase: Melcor raised its quarterly dividend to $0.15 from $0.13 (paid March 31), implying a $0.60 annualized payout, a 3.3% yield and a payout ratio of 25.13%.

Melcor Developments Ltd. (TSE:MRD - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$18.50 and last traded at C$18.22, with a volume of 5555 shares trading hands. The stock had previously closed at C$18.30.

Melcor Developments Price Performance

The firm has a fifty day moving average of C$17.22 and a two-hundred day moving average of C$15.85. The stock has a market capitalization of C$547.62 million, a P/E ratio of 9.54 and a beta of 0.40. The company has a debt-to-equity ratio of 43.27, a current ratio of 5.23 and a quick ratio of 2.65.

Melcor Developments (TSE:MRD - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported C$1.05 earnings per share (EPS) for the quarter. Melcor Developments had a net margin of 14.13% and a return on equity of 4.65%. The company had revenue of C$187.12 million for the quarter. On average, analysts predict that Melcor Developments Ltd. will post 2.3613596 EPS for the current year.

Melcor Developments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.15 per share. This is a boost from Melcor Developments's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, March 20th. Melcor Developments's payout ratio is 25.13%.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.

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