Corby Spirit and Wine (TSE:CSW.A) Stock Price Breaks Below 200 Day Moving Average - Should You Sell?

Key Points

• Corby Spirit and Wine shares fell below their 200-day moving average, trading as low as C$15.06 versus the C$15.30 average, though they last traded at C$15.41.
• Despite the technical weakness, Acumen Capital maintained a “buy” rating with a C$22.00 price target; the stock’s average analyst rating is also “Buy.”
• The company increased its quarterly dividend to C$0.25 per share, implying a 6.5% annualized yield, while recent results included C$0.26 EPS and C$71.07 million in quarterly revenue.

Corby Spirit and Wine Ltd (TSE:CSW.A - Get Free Report) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$15.30 and traded as low as C$15.06. Corby Spirit and Wine shares last traded at C$15.41, with a volume of 14,464 shares.

Wall Street Analysts Forecast Growth

Separately, Acumen Capital set a C$22.00 price objective on shares of Corby Spirit and Wine and gave the company a "buy" rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of C$22.00.

Corby Spirit and Wine Price Performance

The business's fifty day simple moving average is C$15.69 and its 200-day simple moving average is C$15.30. The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 77.55. The firm has a market cap of C$438.71 million, a P/E ratio of 13.17 and a beta of 0.11.

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

Corby Spirit and Wine Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were issued 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 yield of 6.5%. Corby Spirit and Wine's payout ratio is currently 80.34%.

About Corby Spirit and Wine

Corby Spirit and Wine Ltd is a Canadian manufacturer, marketer and importer of spirits and wines. The company derives its revenues from the sale of its owned-brands in Canada and other international markets, as well as earning commissions from the representation of selected non-owned brands in the Canadian marketplace. The company also supplements these primary sources of revenue with other ancillary activities incidental to its core business, such as logistics fees. The company has two reportable segments: Case Goods and Commissions.

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