Tate & Lyle (LON:TATE) Shares Pass Below 200 Day Moving Average – What’s Next?

Tate & Lyle plc (LON:TATE)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 684.38 ($8.38) and traded as low as GBX 617.50 ($7.56). Tate & Lyle shares last traded at GBX 630 ($7.71), with a volume of 1,605,368 shares traded.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft lifted their price objective on Tate & Lyle from GBX 850 ($10.40) to GBX 950 ($11.63) and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Tate & Lyle Price Performance

The firm has a market capitalization of £2.43 billion, a PE ratio of 1,453.43, a P/E/G ratio of 1.37 and a beta of 0.50. The company has a debt-to-equity ratio of 47.62, a current ratio of 3.22 and a quick ratio of 1.77. The business’s 50 day moving average is GBX 698.60 and its two-hundred day moving average is GBX 684.31.

Tate & Lyle Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, January 6th. Stockholders of record on Thursday, November 21st were given a dividend of GBX 6.40 ($0.08) per share. This represents a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, November 21st. Tate & Lyle’s dividend payout ratio (DPR) is currently 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.