Melcor Developments (TSE:MRD) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Melcor Developments shares rose 1.0% and crossed above their 200-day moving average of C$18.51, reaching C$18.95 before closing at C$18.83.
• The company reported quarterly EPS of C$0.73 on C$61.99 million in revenue, with a 24.75% net margin and 7.14% return on equity. Analysts expect full-year EPS of C$2.36.
• Melcor paid a quarterly dividend of C$0.15, equivalent to C$0.60 annually and a 3.2% yield; insider ownership stands at 65.2%, with one director buying shares and another selling 10,000 shares.

Shares of Melcor Developments Ltd. (TSE:MRD - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$18.51 and traded as high as C$18.95. Melcor Developments shares last traded at C$18.83, with a volume of 4,918 shares changing hands.

Melcor Developments Stock Up 1.0%

The firm has a market capitalization of C$564.32 million, a P/E ratio of 6.28 and a beta of 0.57. The company has a debt-to-equity ratio of 37.81, a quick ratio of 2.65 and a current ratio of 5.10. The business's fifty day moving average price is C$18.67 and its two-hundred day moving average price is C$18.51.

Melcor Developments (TSE:MRD - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$0.73 earnings per share (EPS) for the quarter. The firm had revenue of C$61.99 million for the quarter. Melcor Developments had a net margin of 24.75% and a return on equity of 7.14%. Equities analysts expect that Melcor Developments Ltd. will post 2.36 earnings per share for the current fiscal year.

Melcor Developments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 15th. Melcor Developments's dividend payout ratio (DPR) is 18.67%.

Insider Buying and Selling at Melcor Developments

In other news, Director Ralph Barclay Young sold 10,000 shares of the company's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of C$17.50, for a total transaction of C$175,000.00. Following the transaction, the director directly owned 90,000 shares of the company's stock, valued at approximately C$1,575,000. This represents a 10.00% decrease in their ownership of the stock. Also, Director Andrew John Melton acquired 3,800 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were acquired at an average price of C$18.58 per share, with a total value of C$70,604.00. Following the acquisition, the director owned 61,800 shares in the company, valued at approximately C$1,148,244. The trade was a 6.55% increase in their position. 65.20% of the stock is currently owned by insiders.

About Melcor Developments

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.