Tree Island Steel (TSE:TSL) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Tree Island Steel Ltd. (TSE:TSL) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.96 and traded as low as C$2.70. Tree Island Steel shares last traded at C$2.76, with a volume of 17,232 shares traded.

Tree Island Steel Price Performance

The business’s fifty day moving average is C$2.71 and its 200 day moving average is C$2.96. The company has a current ratio of 5.39, a quick ratio of 1.75 and a debt-to-equity ratio of 21.10. The firm has a market capitalization of C$71.65 million, a P/E ratio of 54.80 and a beta of 0.97.

Tree Island Steel (TSE:TSL) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.02 earnings per share (EPS) for the quarter. Tree Island Steel had a net margin of 0.61% and a return on equity of 1.01%. The business had revenue of C$57.72 million for the quarter. As a group, analysts forecast that Tree Island Steel Ltd. will post 0.3684211 EPS for the current year.

Tree Island Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, September 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.38%. Tree Island Steel’s dividend 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.