Tree Island Steel (TSE:TSL) Stock Crosses Above 50 Day Moving Average - Here's Why

Tree Island Steel Ltd. (TSE:TSL - Get Free Report) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$2.73 and traded as high as C$2.95. Tree Island Steel shares last traded at C$2.86, with a volume of 6,205 shares changing hands.

The company has a debt-to-equity ratio of 21.10, a current ratio of 5.39 and a quick ratio of 1.75. The stock has a market cap of C$74.79 million, a P/E ratio of 57.20 and a beta of 0.96. The firm's fifty day moving average price is C$2.73 and its two-hundred day moving average price is C$2.92.

Tree Island Steel (TSE:TSL - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.02 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 during the quarter. As a group, equities research analysts forecast that Tree Island Steel Ltd. will post 0.4054054 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, September 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 4.20%. Tree Island Steel's dividend payout ratio is 240.00%.

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.

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