Melcor Developments (TSE:MRD) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Technical breakout: Melcor's stock crossed above its 200-day moving average of C$16.28, trading as high as C$18.75 and last at C$18.35 on a volume of 3,803 shares.
• Solid fundamentals: The company has a market cap of C$551.5M and a P/E of 9.61, reported C$1.05 EPS for the quarter with a 14.13% net margin, and analysts expect about C$2.36 EPS for the year.
• Dividend increase: Melcor raised its quarterly dividend to C$0.15 (from C$0.13), equal to C$0.60 annualized for a ~3.3% yield and a payout ratio of roughly 25.1%.

Melcor Developments Ltd. (TSE:MRD - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.28 and traded as high as C$18.75. Melcor Developments shares last traded at C$18.35, with a volume of 3,803 shares trading hands.

Melcor Developments Trading Down 2.1%

The company has a market cap of C$551.53 million, a price-to-earnings ratio of 9.61 and a beta of 0.40. The company's 50 day moving average price is C$18.02 and its 200 day moving average price is C$16.28. The company has a debt-to-equity ratio of 43.27, a quick ratio of 2.65 and a current ratio of 5.23.

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

Melcor Developments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 20th. This is an increase from Melcor Developments's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 3.3%. Melcor Developments's dividend payout ratio (DPR) is currently 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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