Tate & Lyle (LON:TATE) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tate & Lyle plc (LON:TATE)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 685.17 ($8.61) and traded as high as GBX 699.50 ($8.79). Tate & Lyle shares last traded at GBX 693 ($8.71), with a volume of 799,289 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tate & Lyle from GBX 850 ($10.69) to GBX 950 ($11.94) and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Tate & Lyle Stock Down 1.1 %

The firm has a market cap of £2.60 billion, a price-to-earnings ratio of 1,557.95, a PEG ratio of 1.37 and a beta of 0.50. The firm has a fifty day moving average price of GBX 741.51 and a 200-day moving average price of GBX 685.17. The company has a quick ratio of 1.77, a current ratio of 3.22 and a debt-to-equity ratio of 47.62.

Tate & Lyle Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, January 6th. Shareholders of record on Thursday, November 21st will be paid a GBX 6.40 ($0.08) dividend. This represents a yield of 0.83%. The ex-dividend date is Thursday, November 21st. Tate & Lyle’s payout ratio is 4,318.18%.

Tate & Lyle Company Profile

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.