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

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

Melcor Developments Price Performance

The stock has a market capitalization of C$570.63 million, a P/E ratio of 7.58 and a beta of 0.44. The business’s 50 day simple moving average is C$18.28 and its two-hundred day simple moving average is C$17.56. The company has a quick ratio of 2.65, a current ratio of 4.21 and a debt-to-equity ratio of 39.23.

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

Melcor Developments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. Melcor Developments’s payout ratio is currently 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.