Chemring Group (LON:CHG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Chemring Group PLC (LON:CHG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 356.92 ($4.61) and traded as high as GBX 385.50 ($4.98). Chemring Group shares last traded at GBX 378 ($4.88), with a volume of 1,782,022 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on CHG shares. Jefferies Financial Group restated a “buy” rating and set a GBX 470 ($6.07) price target on shares of Chemring Group in a research note on Tuesday, December 17th. Shore Capital reiterated a “buy” rating on shares of Chemring Group in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Chemring Group presently has an average rating of “Moderate Buy” and a consensus price target of GBX 429.50 ($5.55).

Chemring Group Trading Down 2.2 %

The company has a market capitalization of £992.65 million, a P/E ratio of 452.41, a price-to-earnings-growth ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 27.42, a current ratio of 1.22 and a quick ratio of 0.71. The firm has a fifty day moving average price of GBX 351.95 and a 200-day moving average price of GBX 357.01.

Chemring Group (LON:CHG) last announced its quarterly earnings data on Tuesday, December 17th. The company reported GBX 15.70 ($0.20) earnings per share for the quarter. Chemring Group had a return on equity of 0.88% and a net margin of 0.64%. On average, equities research analysts anticipate that Chemring Group PLC will post 24.8815166 earnings per share for the current year.

Chemring Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, March 20th will be issued a GBX 5.20 ($0.07) dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a yield of 1.44%. This is a positive change from Chemring Group’s previous dividend of $2.60. Chemring Group’s dividend payout ratio (DPR) is 857.06%.

Insider Activity at Chemring Group

In other news, insider Sarah Ellard sold 27,445 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of GBX 415 ($5.36), for a total value of £113,896.75 ($147,058.42). 1.69% of the stock is currently owned by company insiders.

Chemring Group Company Profile

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers’ complex needs.

Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today’s increasingly unstable world.

We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success.

Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.