Tate & Lyle (LON:TATE) Shares Cross Above 200-Day Moving Average of $767.93

Tate & Lyle plc (LON:TATEGet Rating)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 767.93 ($9.55) and traded as high as GBX 788 ($9.80). Tate & Lyle shares last traded at GBX 784.50 ($9.76), with a volume of 1,002,607 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Berenberg Bank restated a “buy” rating and set a GBX 940 ($11.69) price objective on shares of Tate & Lyle in a research report on Thursday, February 9th. Numis Securities reiterated a “buy” rating and issued a GBX 975 ($12.13) price target on shares of Tate & Lyle in a research report on Thursday. Barclays raised their price objective on shares of Tate & Lyle from GBX 890 ($11.07) to GBX 970 ($12.06) and gave the company an “overweight” rating in a research report on Monday, February 13th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 810 ($10.07) price objective on shares of Tate & Lyle in a research report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Tate & Lyle currently has an average rating of “Moderate Buy” and an average price target of GBX 909 ($11.31).

Tate & Lyle Stock Performance

The firm’s 50-day simple moving average is GBX 797.98 and its 200-day simple moving average is GBX 768.27. The company has a market capitalization of ¬£3.21 billion, a PE ratio of 4,702.94, a PEG ratio of 2.98 and a beta of 0.46. The company has a current ratio of 2.64, a quick ratio of 1.77 and a debt-to-equity ratio of 65.22.

Tate & Lyle Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Thursday, June 22nd will be given a GBX 13.10 ($0.16) dividend. This represents a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, June 22nd. This is a boost from Tate & Lyle’s previous dividend of $5.40. Tate & Lyle’s dividend payout ratio is presently 10,588.24%.

Tate & Lyle Company Profile

(Get Rating)

Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products.

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