Canaccord Genuity Group Trims Castings (LON:CGS) Target Price to GBX 450

Castings (LON:CGSFree Report) had its price objective trimmed by Canaccord Genuity Group from GBX 550 ($7.00) to GBX 450 ($5.73) in a report published on Wednesday morning, reports. The firm currently has a buy rating on the stock.

Castings Price Performance

CGS opened at GBX 376 ($4.79) on Wednesday. The stock has a market cap of £163.41 million, a P/E ratio of 1,074.29 and a beta of 0.55. The stock’s 50 day simple moving average is GBX 374.44 and its 200 day simple moving average is GBX 360.62. Castings has a 1-year low of GBX 320 ($4.07) and a 1-year high of GBX 428 ($5.45).

Castings Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Thursday, June 20th will be issued a dividend of GBX 14.19 ($0.18) per share. This represents a yield of 3.84%. The ex-dividend date of this dividend is Thursday, June 20th. This is a boost from Castings’s previous dividend of $4.13. Castings’s dividend payout ratio is 5,142.86%.

Castings Company Profile

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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.

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