iomart Group (LON:IOM) Share Price Passes Below 200 Day Moving Average of $142.57

iomart Group plc (LON:IOM) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 142.57 ($1.81) and traded as low as GBX 125 ($1.59). iomart Group shares last traded at GBX 127 ($1.61), with a volume of 33,521 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IOM. Numis Securities upgraded shares of iomart Group to a “buy” rating and set a GBX 185 ($2.35) price objective for the company in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 185 ($2.35) price objective on shares of iomart Group in a report on Monday, June 10th. Finally, Shore Capital reiterated a “buy” rating on shares of iomart Group in a report on Friday, June 7th.

iomart Group Price Performance

The firm has a market cap of £142.51 million, a price-to-earnings ratio of 2,116.67 and a beta of 0.52. The business’s 50-day simple moving average is GBX 134.93 and its two-hundred day simple moving average is GBX 142.57. The company has a current ratio of 1.09, a quick ratio of 1.18 and a debt-to-equity ratio of 47.97.

iomart Group Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, September 9th. Shareholders of record on Thursday, August 15th will be given a dividend of GBX 3 ($0.04) per share. This represents a yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from iomart Group’s previous dividend of $1.94. iomart Group’s dividend payout ratio is currently 8,333.33%.

About iomart Group

iomart Group plc engages in the provision of cloud hosting and managed services in the United Kingdom and internationally. It operates in two segments, Cloud Services and Easyspace. The Cloud Services segment offers managed cloud computing facilities and services, such as colocation data centre and disaster recovery services through a network of owned data centres, to the larger SME and corporate markets.