Spin Master (TSE:TOY) Share Price Crosses Below 50-Day Moving Average After Analyst Downgrade

Key Points

• Spin Master Corp. shares fell below the 50-day moving average after Canaccord Genuity lowered their price target from C$24.00 to C$20.00, with shares last trading at C$20.53.
• Multiple brokerages have downgraded Spin Master's ratings and price targets, leading to an overall average rating of "Moderate Buy" with a target price of C$29.00.
• Spin Master recently declared a quarterly dividend of $0.12, resulting in an annualized yield of 2.3%, with a payout ratio of 41.44%.

Spin Master Corp. (TSE:TOY - Get Free Report) shares passed below its fifty day moving average during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from C$24.00 to C$20.00. The stock has a fifty day moving average of C$21.22 and traded as low as C$20.10. Spin Master shares last traded at C$20.53, with a volume of 132,347 shares changing hands.

Several other brokerages have also recently issued reports on TOY. Stifel Canada cut shares of Spin Master from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. TD Securities cut their target price on shares of Spin Master from C$31.00 to C$29.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. National Bankshares reduced their target price on shares of Spin Master from C$29.00 to C$27.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Stifel Nicolaus downgraded shares of Spin Master from a "buy" rating to a "hold" rating and dropped their price target for the stock from C$33.00 to C$25.00 in a research note on Friday, August 1st. Finally, CIBC cut their price objective on Spin Master from C$26.00 to C$23.00 in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Spin Master has an average rating of "Moderate Buy" and an average target price of C$29.00.

Spin Master Price Performance

The company has a market capitalization of C$2.08 billion, a PE ratio of 24.73, a P/E/G ratio of 0.57 and a beta of 0.47. The company has a current ratio of 1.14, a quick ratio of 2.06 and a debt-to-equity ratio of 39.61. The stock has a fifty day simple moving average of C$21.22 and a 200-day simple moving average of C$22.88.

Spin Master Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, October 10th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, September 26th. Spin Master's dividend payout ratio is 41.44%.

About Spin Master

Spin Master is a children's entertainment company operating in the roughly $100 billion global toy industry. The company creates, designs, manufactures, and markets a portfolio of products, brands, and entertainment properties across four key categories (outdoor, boys, preschool and girls, and activities games and puzzles and plush).

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