Tree Island Steel (TSE:TSL) Stock Crosses Above 50-Day Moving Average – Here’s Why

Tree Island Steel Ltd. (TSE:TSL)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$2.38 and traded as high as C$2.71. Tree Island Steel shares last traded at C$2.71, with a volume of 6,402 shares changing hands.

Tree Island Steel Stock Down 2.6%

The firm’s 50-day simple moving average is C$2.39 and its 200-day simple moving average is C$2.43. The company has a debt-to-equity ratio of 28.61, a quick ratio of 1.75 and a current ratio of 2.95. The company has a market capitalization of C$67.46 million, a price-to-earnings ratio of -9.67 and a beta of 0.48.

Tree Island Steel (TSE:TSL) last announced its quarterly earnings data on Thursday, August 13th. The company reported C($0.01) EPS for the quarter. Tree Island Steel had a negative net margin of 4.34% and a negative return on equity of 6.25%. The company had revenue of C$48.55 million for the quarter. Sell-side analysts forecast that Tree Island Steel Ltd. will post 0.4054054 earnings per share for the current year.

Tree Island Steel Company Profile

Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products.