discoverIE Group (LON:DSCV) Stock Price Down 2.1% – Here’s What Happened

discoverIE Group plc (LON:DSCV)’s share price dropped 2.1% during mid-day trading on Tuesday . The stock traded as low as GBX 691 ($8.52) and last traded at GBX 691 ($8.52). Approximately 101,101 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 666,355 shares. The stock had previously closed at GBX 706 ($8.70).

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DSCV. Berenberg Bank reiterated a “buy” rating and set a GBX 950 ($11.71) price objective on shares of discoverIE Group in a report on Monday, December 9th. Shore Capital raised shares of discoverIE Group to a “hold” rating in a research note on Wednesday, December 4th.

discoverIE Group Stock Performance

The company has a debt-to-equity ratio of 77.89, a current ratio of 1.55 and a quick ratio of 0.96. The stock has a 50-day moving average price of GBX 683.73 and a 200-day moving average price of GBX 660.98. The company has a market capitalization of £662.95 million, a price-to-earnings ratio of 4,318.75 and a beta of 1.09.

discoverIE Group (LON:DSCV) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported GBX 18.40 ($0.23) earnings per share (EPS) for the quarter. discoverIE Group had a return on equity of 5.12% and a net margin of 3.55%. As a group, analysts forecast that discoverIE Group plc will post 37.5 earnings per share for the current year.

discoverIE Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 24th. Stockholders of record on Thursday, December 12th will be issued a dividend of GBX 3.90 ($0.05) per share. This represents a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 12th. discoverIE Group’s dividend payout ratio is presently 7,500.00%.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.