Jamieson Wellness (TSE:JWEL) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Jamieson Wellness shares crossed above their 50-day moving average, trading near C$45.52 after reaching C$45.55. The stock’s 200-day moving average is C$39.18.
• Analyst sentiment has weakened, with several firms downgrading the stock to Hold or Sell. The consensus rating is Hold, with an average price target of C$46.07.
• The company increased its quarterly dividend from C$0.23 to C$0.25 per share, equivalent to a C$1.00 annualized payout and a 2.2% yield.

Shares of Jamieson Wellness Inc. (TSE:JWEL - Get Free Report) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$45.50 and traded as high as C$45.55. Jamieson Wellness shares last traded at C$45.52, with a volume of 388,495 shares trading hands.

Analysts Set New Price Targets

JWEL has been the subject of several recent research reports. TD lowered Jamieson Wellness from a "hold" rating to a "sell" rating and lowered their target price for the company from C$49.00 to C$45.75 in a report on Friday, October 2nd. Stifel Nicolaus cut Jamieson Wellness from a "buy" rating to a "hold" rating and increased their price target for the stock from C$45.00 to C$45.75 in a research report on Friday, August 7th. National Bank Financial downgraded Jamieson Wellness from an "outperform" rating to a "tender" rating and cut their price target for the stock from C$51.00 to C$45.75 in a report on Monday, August 31st. Royal Bank Of Canada lowered Jamieson Wellness from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from C$46.00 to C$45.75 in a research report on Monday, August 10th. Finally, Canaccord Genuity Group lowered Jamieson Wellness from a "buy" rating to a "hold" rating and boosted their price objective for the company from C$44.50 to C$45.75 in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of C$46.07.

Jamieson Wellness Stock Up 0.1%

The firm's 50-day moving average price is C$45.50 and its 200 day moving average price is C$39.18. The firm has a market cap of C$1.89 billion, a P/E ratio of 24.87 and a beta of 1.37. The company has a quick ratio of 1.08, a current ratio of 3.41 and a debt-to-equity ratio of 93.69.

Jamieson Wellness (TSE:JWEL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.46 earnings per share for the quarter. The firm had revenue of C$233.84 million for the quarter. Jamieson Wellness had a net margin of 8.92% and a return on equity of 15.93%. As a group, research analysts expect that Jamieson Wellness Inc. will post 2.14 earnings per share for the current year.

Jamieson Wellness Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 15th were given a $0.25 dividend. This is a positive change from Jamieson Wellness's previous quarterly dividend of $0.23. The ex-dividend date was Monday, August 31st. This represents a $1.00 annualized dividend and a yield of 2.2%. Jamieson Wellness's payout ratio is currently 50.27%.

Jamieson Wellness Company Profile

Jamieson Wellness Inc is engaged in the manufacturing, distributing, and marketing of branded natural health products, including vitamins, minerals, and supplements. The company operates in two segments: The Jamieson brands and The Strategic Partners. The majority of its revenue comes from the Jamieson brand segment. Some of its brands are Jamieson, Progressive, Precision, and Iron Vegan. Geographically, most of its revenue is derived from the domestic market.

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