FY2017 Earnings Forecast for Tree Island Steel Ltd. (TSL) Issued By Cormark
Tree Island Steel Ltd. (TSE:TSL) – Investment analysts at Cormark lowered their FY2017 EPS estimates for Tree Island Steel in a research note issued on Friday. Cormark analyst G. Fairweather now forecasts that the company will earn $0.07 per share for the year, down from their previous forecast of $0.09. Cormark also issued estimates for Tree Island Steel’s FY2018 earnings at $0.20 EPS.
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Tree Island Steel (TSL) opened at 2.92 on Monday. The firm has a 50-day moving average of $2.98 and a 200-day moving average of $3.75. The company has a market capitalization of $89.77 million and a PE ratio of 20.28. Tree Island Steel has a 52 week low of $2.67 and a 52 week high of $6.34.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, September 28th.
In other news, insider Island Steel Ltd. (Former Tree acquired 65,600 shares of Tree Island Steel stock in a transaction dated Tuesday, September 26th. The shares were bought at an average cost of C$3.10 per share, with a total value of C$203,360.00.
About Tree Island Steel
Tree Island Steel Ltd. manufactures and sells steel wire and wire products for industrial, construction, agricultural, and specialty applications in Canada, the United States, and internationally. It offers residential products, including bulk nails, collated nails, packaged nails and fasteners, bulk screws, and packaged nails and fasteners, as well as nail head identification systems; and woven wires, welded wires, and corners and accessories.
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