Melcor Developments (TSE:MRD) Reaches New 52-Week High – Still a Buy?

Shares of Melcor Developments Ltd. (TSE:MRD) reached a new 52-week high during trading on Friday . The stock traded as high as C$19.38 and last traded at C$19.25, with a volume of 1416 shares trading hands. The stock had previously closed at C$19.08.

Melcor Developments Stock Down 0.2%

The business’s 50 day simple moving average is C$18.26 and its 200 day simple moving average is C$17.55. The company has a current ratio of 4.21, a quick ratio of 2.65 and a debt-to-equity ratio of 39.23. The firm has a market capitalization of C$574.53 million, a PE ratio of 7.63 and a beta of 0.44.

Melcor Developments (TSE:MRD) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.76 EPS for the quarter. Melcor Developments had a return on equity of 6.06% and a net margin of 18.80%.The company had revenue of C$45.37 million during the quarter. On average, equities research analysts forecast that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.15 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.1%. Melcor Developments’s payout ratio is 20.72%.

Melcor Developments Company Profile

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.