Tate & Lyle (LON:TATE) Share Price Passes Below 200 Day Moving Average – Here’s Why

Tate & Lyle plc (LON:TATE) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 683.57 ($8.49) and traded as low as GBX 652.50 ($8.11). Tate & Lyle shares last traded at GBX 655.40 ($8.14), with a volume of 1,996,690 shares changing hands.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tate & Lyle from GBX 850 ($10.56) to GBX 950 ($11.80) and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Tate & Lyle Stock Performance

The company has a debt-to-equity ratio of 47.62, a quick ratio of 1.77 and a current ratio of 3.22. The company has a market cap of £2.49 billion, a price-to-earnings ratio of 1,489.54, a PEG ratio of 1.37 and a beta of 0.50. The firm’s 50-day moving average price is GBX 718.66 and its 200 day moving average price is GBX 683.57.

Tate & Lyle Cuts Dividend

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

About Tate & Lyle

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.