Tree Island Steel (TSE:TSL) Shares Pass Below Fifty Day Moving Average – What’s Next?

Tree Island Steel Ltd. (TSE:TSL) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$2.44 and traded as low as C$2.35. Tree Island Steel shares last traded at C$2.35, with a volume of 101 shares trading hands.

Tree Island Steel Stock Performance

The company has a market capitalization of C$60.81 million, a price-to-earnings ratio of -9.04 and a beta of 0.37. The company has a debt-to-equity ratio of 25.63, a quick ratio of 1.75 and a current ratio of 3.30. The company’s fifty day simple moving average is C$2.44 and its two-hundred day simple moving average is C$2.62.

Tree Island Steel (TSE:TSL) last released its earnings results on Friday, May 15th. The company reported C($0.05) earnings per share for the quarter. The company had revenue of C$43.05 million during the quarter. Tree Island Steel had a negative return on equity of 5.86% and a negative net margin of 4.20%. Equities research analysts predict that Tree Island Steel Ltd. will post 0.4054054 earnings per share for the current fiscal year.

About Tree Island Steel

Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products.