St. Joe (NYSE:JOE) Share Price Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• St. Joe shares broke above their 200-day moving average, reaching $66.75 before closing at $66.23, compared with a 200-day average of $65.03.
• Weiss Ratings upgraded the stock from “hold (C+)” to “buy (B-),” while MarketBeat reported an overall “Buy” analyst rating. The company recently posted quarterly earnings of $0.71 per share on $158.86 million in revenue.
• St. Joe announced a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 1.0% yield. Institutional investors own approximately 86.67% of the company.

St. Joe Company (The) (NYSE:JOE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $65.03 and traded as high as $66.75. St. Joe shares last traded at $66.23, with a volume of 285,279 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of St. Joe from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

St. Joe Price Performance

The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 30.95 and a beta of 1.28. The company has a 50 day simple moving average of $66.03 and a 200-day simple moving average of $65.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.71.

St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share for the quarter. The company had revenue of $158.86 million during the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.

St. Joe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 21st were issued a dividend of $0.16 per share. The ex-dividend date was Friday, August 21st. This represents a $0.64 annualized dividend and a yield of 1.0%. St. Joe's dividend payout ratio is presently 29.91%.

Institutional Investors Weigh In On St. Joe

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of St. Joe during the 2nd quarter worth approximately $385,050,000. Nitor Capital Management LLC bought a new position in shares of St. Joe in the second quarter valued at $32,974,000. Punch & Associates Investment Management Inc. bought a new position in shares of St. Joe in the second quarter valued at $23,603,000. Berkley W R Corp acquired a new position in St. Joe during the second quarter worth $13,124,000. Finally, Bank of America Corp DE acquired a new position in St. Joe during the second quarter worth $11,797,000. 86.67% of the stock is owned by institutional investors.

About St. Joe

The St. Joe Company NYSE: JOE is a real estate development and asset management company focused primarily on Northwest Florida. The company owns and manages a substantial portfolio of land and properties used for residential, commercial, hospitality, and conservation purposes.

St. Joe develops residential communities, including single-family homes, resort-oriented communities, and related amenities. Its commercial activities include office, retail, and other mixed-use developments, while its hospitality operations include hotels, resorts, golf courses, marinas, and other recreational facilities.

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