Tree Island Steel (TSE:TSL) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of Tree Island Steel Ltd. (TSE:TSL) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.95 and traded as low as C$2.93. Tree Island Steel shares last traded at C$3.00, with a volume of 6,253 shares trading hands.

Tree Island Steel Price Performance

The stock has a market capitalization of C$78.45 million, a P/E ratio of 60.00 and a beta of 0.96. The business has a fifty day simple moving average of C$2.70 and a 200 day simple moving average of C$2.95. The company has a current ratio of 5.39, a quick ratio of 1.75 and a debt-to-equity ratio of 21.10.

Tree Island Steel (TSE:TSL) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$57.72 million during the quarter. Tree Island Steel had a return on equity of 1.01% and a net margin of 0.61%. On average, analysts expect that Tree Island Steel Ltd. will post 0.4054054 earnings per share for the current year.

Tree Island Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Friday, September 27th. Tree Island Steel’s payout ratio is currently 240.00%.

About Tree Island Steel

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally. It offers low-carbon and high-carbon galvanized steel wires; clean and bright wire for industrial and original equipment manufacturer customers; agricultural products, including fencing, barbed wire, galvanized wire, and bright wire, as well as other fabricated wire products specifically for farming, ranching, and vineyards; welded wire concrete reinforcing mesh and other fabricated wire products for heavy construction industry and infrastructure projects; and nails and stucco reinforcing products for residential and light commercial construction.