Rocky Mountain Dealerships (TSE:RME) Shares Cross Above 200 Day Moving Average of $7.92

Rocky Mountain Dealerships Inc. (TSE:RME)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.92 and traded as high as $7.01. Rocky Mountain Dealerships shares last traded at $6.94, with a volume of 7,300 shares changing hands.

A number of equities research analysts have commented on the stock. National Bank Financial dropped their price objective on shares of Rocky Mountain Dealerships from C$8.00 to C$7.50 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. CIBC dropped their target price on shares of Rocky Mountain Dealerships from C$10.00 to C$9.00 in a research report on Tuesday, July 16th. TD Securities downgraded shares of Rocky Mountain Dealerships from a “buy” rating to a “hold” rating and dropped their target price for the company from C$11.50 to C$8.50 in a research report on Thursday, August 1st. Royal Bank of Canada dropped their target price on shares of Rocky Mountain Dealerships from C$9.00 to C$8.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. Finally, Raymond James dropped their target price on shares of Rocky Mountain Dealerships from C$11.50 to C$10.50 and set an “outperform” rating on the stock in a research report on Thursday, August 1st.

The company has a debt-to-equity ratio of 277.54, a quick ratio of 0.07 and a current ratio of 1.28. The stock’s 50-day moving average is C$6.93 and its 200 day moving average is C$7.92. The stock has a market capitalization of $133.64 million and a PE ratio of 13.61.

Rocky Mountain Dealerships (TSE:RME) last posted its earnings results on Wednesday, July 31st. The company reported C$0.06 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.18 by C($0.12). The company had revenue of C$194.57 million for the quarter, compared to analysts’ expectations of C$311.86 million. Analysts expect that Rocky Mountain Dealerships Inc. will post 0.7500001 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were given a $0.1225 dividend. This represents a $0.49 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date was Thursday, September 12th. Rocky Mountain Dealerships’s dividend payout ratio (DPR) is 96.08%.

About Rocky Mountain Dealerships (TSE:RME)

Rocky Mountain Dealerships Inc, through its subsidiaries, sells, rents, leases, and provides support services for new and used agriculture and industrial equipment primarily in Canada and the United States. The company primarily provides utility tractors, harvesters, sprayers, articulated 4 wheel-drive tractors, skid steer loaders, excavators, wheel loaders, graders, and equipment for maintaining barns and feedlots.

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