Castings (LON:CGS) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Posted by Defense World Staff on Dec 25th, 2024

Castings P.L.C. (LON:CGS – Get Free Report) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 315.85 ($3.96) and traded as low as GBX 254 ($3.18). Castings shares last traded at GBX 265.90 ($3.33), with a volume of 235,716 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their target price on Castings from GBX 390 ($4.89) to GBX 340 ($4.26) and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Read Our Latest Analysis on CGS

Castings Stock Performance

The business’s fifty day moving average price is GBX 273.94 and its two-hundred day moving average price is GBX 315.85. The stock has a market capitalization of £115.56 million, a P/E ratio of 699.74 and a beta of 0.60.

Castings Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st will be paid a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date is Thursday, November 21st. This represents a yield of 1.51%. Castings’s payout ratio is currently 4,736.84%.

Insider Activity

In other news, insider Adam Vicary acquired 1,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of GBX 267 ($3.35) per share, for a total transaction of £4,005 ($5,020.68). Corporate insiders own 21.35% of the company’s stock.

Castings Company Profile

(Get Free Report)

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.