North West (TSE:NWC) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• North West Company Inc. (TSE:NWC) shares fell below their 200-day moving average, trading as low as C$46.90, which is below the average of C$50.82.
• Analysts remain optimistic about the stock, with a consensus target price of C$60.25 and multiple buy ratings despite a decrease in CIBC's target from C$59.00 to C$58.00.
• The company announced a quarterly dividend of $0.41 per share; stockholders of record will receive this payment on October 15th, reflecting a dividend yield of 3.5%.

The North West Company Inc. (TSE:NWC - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$50.82 and traded as low as C$46.90. North West shares last traded at C$47.24, with a volume of 277,925 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. CIBC dropped their price objective on shares of North West from C$59.00 to C$58.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 10th. Royal Bank Of Canada set a C$60.00 price target on shares of North West and gave the stock an "outperform" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$60.25.

North West Trading Down 0.3%

The company has a market cap of C$2.25 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.11 and a beta of 0.20. The company has a debt-to-equity ratio of 59.78, a current ratio of 2.16 and a quick ratio of 0.64. The firm's fifty day moving average price is C$49.02 and its 200-day moving average price is C$50.82.

North West Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.64 annualized dividend and a dividend yield of 3.5%. North West's payout ratio is 56.34%.

About North West

The North West Co Inc is a Canada-based company that is principally engaged in retail business in underserved rural communities and urban neighborhoods. The company provides food, family apparel, housewares, appliances, and outdoor products, with food products accounting for the majority of the company's revenue.

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