KP Tissue (TSE:KPT) Share Price Breaks Above 50-Day Moving Average – Here’s What Happened

KP Tissue Inc. (TSE:KPT)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$12.17 and traded as high as C$12.43. KP Tissue shares last traded at C$12.35, with a volume of 26,968 shares traded.

Key Headlines Impacting KP Tissue

These are some of the KPT headlines that stood out recently:

• Positive Sentiment: Third-quarter net income rose, and KP Tissue reported earnings of C$0.31 per share. The release did not specify whether EPS beat analyst expectations. KP Tissue Q3 Net Income Rises
• Positive Sentiment: The company declared a quarterly dividend of C$0.21 per common share, which may appeal to income-focused investors. KP Tissue Declares a Quarterly Dividend
• Neutral Sentiment: The Q3 earnings call was characterized as broadly positive and highlighted growth, but the available summary gives no additional details about the outlook or growth drivers. KP Tissue Earnings Call Highlights

Analyst Ratings Changes

Separately, TD lowered their price objective on KP Tissue from C$14.00 to C$13.00 and set a “hold” rating for the company in a research report on Wednesday, October 14th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$11.88.

KP Tissue Trading Up 3.3%

The stock’s fifty day moving average is C$12.17 and its 200 day moving average is C$11.94. The company has a market capitalization of C$123.90 million, a P/E ratio of 14.03, a price-to-earnings-growth ratio of -0.88 and a beta of 0.47.

KP Tissue (TSE:KPT) last announced its quarterly earnings results on Wednesday, November 11th. The company reported C$0.31 earnings per share (EPS) for the quarter. On average, analysts expect that KP Tissue Inc. will post 0.44 EPS for the current fiscal year.

KP Tissue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Tuesday, September 29th. KP Tissue’s dividend payout ratio is 85.23%.

About KP Tissue

KPT was created to acquire, and its business is limited to holding, a limited equity interest in Kruger Products, which is accounted for as an investment on the equity basis. KPT currently holds a 12% interest in Kruger Products.