Corby Spirit and Wine (TSE:CSW.A) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Corby Spirit and Wine Ltd (TSE:CSW.A) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$15.41 and traded as high as C$15.78. Corby Spirit and Wine shares last traded at C$15.70, with a volume of 8,434 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Acumen Capital set a C$22.00 price objective on shares of Corby Spirit and Wine and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$22.00.

Corby Spirit and Wine Price Performance

The company has a current ratio of 2.34, a quick ratio of 1.77 and a debt-to-equity ratio of 77.55. The stock has a fifty day simple moving average of C$15.42 and a two-hundred day simple moving average of C$14.82. The company has a market cap of C$446.39 million, a PE ratio of 13.52 and a beta of 0.17.

Corby Spirit and Wine (TSE:CSW.A) last issued its earnings results on Thursday, May 14th. The company reported C$0.27 earnings per share (EPS) for the quarter. The business had revenue of C$58.27 million during the quarter. Corby Spirit and Wine had a return on equity of 13.22% and a net margin of 10.41%. On average, equities analysts predict that Corby Spirit and Wine Ltd will post 0.99 EPS for the current fiscal year.

Corby Spirit and Wine Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 10th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.96 dividend on an annualized basis and a yield of 6.1%. Corby Spirit and Wine’s dividend payout ratio (DPR) is 80.17%.

Corby Spirit and Wine Company Profile

Corby Spirit and Wine Ltd is a Canadian manufacturer, marketer and importer of spirits and wines. The company derives its revenues from the sale of its owned-brands in Canada and other international markets, as well as earning commissions from the representation of selected non-owned brands in the Canadian marketplace. The company also supplements these primary sources of revenue with other ancillary activities incidental to its core business, such as logistics fees. The company has two reportable segments: Case Goods and Commissions.