Corby Spirit and Wine (TSE:CSW.A) Share Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Corby Spirit and Wine shares rose 2.9%, trading as high as C$15.69 and moving above the 50-day average of C$15.57; the 200-day average is C$15.35.
• Acumen Capital initiated or reiterated a Buy rating with a C$22.00 price target, implying considerable upside from the current price. MarketBeat reports an overall average rating of Buy.
• Corby increased its quarterly dividend to C$0.25 per share, or C$1.00 annually, for a 6.4% yield; its latest quarter included C$0.26 EPS and C$71.07 million in revenue.

Corby Spirit and Wine Ltd (TSE:CSW.A - Get Free Report)'s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$15.57 and traded as high as C$15.69. Corby Spirit and Wine shares last traded at C$15.69, with a volume of 18,464 shares trading hands.

Analyst Ratings Changes

Separately, Acumen Capital set a C$22.00 target price on Corby Spirit and Wine and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$22.00.

Corby Spirit and Wine Stock Up 2.9%

The company has a debt-to-equity ratio of 77.55, a quick ratio of 1.77 and a current ratio of 2.34. The firm has a fifty day moving average price of C$15.57 and a 200 day moving average price of C$15.35. The firm has a market capitalization of C$446.68 million, a price-to-earnings ratio of 13.41 and a beta of 0.05.

Corby Spirit and Wine (TSE:CSW.A - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported C$0.26 earnings per share for the quarter. The company had revenue of C$71.07 million for the quarter. Corby Spirit and Wine had a net margin of 10.41% and a return on equity of 13.22%. As a group, sell-side analysts expect that Corby Spirit and Wine Ltd will post 0.99 EPS for the current fiscal year.

Corby Spirit and Wine Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were paid a dividend of $0.25 per share. This is a positive change from Corby Spirit and Wine's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.4%. Corby Spirit and Wine's dividend payout ratio is 80.34%.

About Corby Spirit and Wine

Corby Spirit and Wine Limited ('Corby') is a leading Canadian manufacturer, marketer and distributor of spirits, wines and ready-to-drink beverages. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's, Lot 40, and Pike Creek Canadian whiskies, Polar Ice vodka, Lamb's rum, and McGuinness liqueurs, Cottage Springs and Nude ready-to-drink beverages, as well as Ungava gin, Cabot Trail maple-based liqueurs, and Foreign Affair wines. Pernod Ricard SA indirectly owns in excess of 50% of Corby's issued and outstanding voting common shares and is considered to be Corby's ultimate parent.

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