St. Joe (NYSE:JOE) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• St. Joe shares moved above their 200-day moving average of $65.47, reaching $66.12 intraday before last trading at $63.86.
• Weiss Ratings upgraded the stock from “hold (C+)” to “buy (B-),” while MarketBeat reported an overall “Buy” rating from the one covering analyst.
• The company reported quarterly EPS of $0.71 on revenue of $158.86 million and announced a quarterly dividend of $0.16, equivalent to a 1.0% annualized yield.

St. Joe Company (The) (NYSE:JOE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $65.47 and traded as high as $66.12. St. Joe shares last traded at $63.86, with a volume of 405,462 shares.

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, St. Joe presently has an average rating of "Buy".

St. Joe Trading Down 0.6%

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.64 billion, a P/E ratio of 29.84 and a beta of 1.29. The business has a 50-day moving average price of $65.02 and a two-hundred day moving average price of $65.47.

St. Joe (NYSE:JOE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. The business had revenue of $158.86 million for 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 will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. St. Joe's dividend payout ratio (DPR) is 29.91%.

Institutional Investors Weigh In On St. Joe

A number of institutional investors and hedge funds have recently modified their holdings of JOE. BlackRock Inc. bought a new position in St. Joe during the second quarter worth about $385,050,000. Nitor Capital Management LLC bought a new stake in shares of St. Joe in the 2nd quarter valued at about $32,974,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of St. Joe in the 2nd quarter valued at approximately $23,603,000. Principal Financial Group Inc. raised its position in shares of St. Joe by 17.0% in the 1st quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider's stock valued at $13,998,000 after acquiring an additional 32,457 shares during the period. Finally, Berkley W R Corp bought a new position in St. Joe during the 2nd quarter worth approximately $13,124,000. 86.67% of the stock is owned by institutional investors.

About St. Joe

The St. Joe Company NYSE: JOE is a real estate development, asset management and operating company focused primarily on Northwest Florida. The company develops residential communities, commercial properties, resorts and other lifestyle-oriented destinations, with activities concentrated in Bay, Gulf, Walton and surrounding counties.

St. Joe's residential development business includes master-planned communities and housing-related projects such as Watersound Origins and other Watersound-branded developments.

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