Dye & Durham (TSE:DND) Shares Up 7.9% – Here’s Why

Dye & Durham Limited (TSE:DND)’s share price was up 7.9% during mid-day trading on Tuesday . The stock traded as high as C$17.40 and last traded at C$17.15. Approximately 99,399 shares were traded during trading, a decline of 35% from the average daily volume of 152,459 shares. The stock had previously closed at C$15.90.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. CIBC lifted their target price on shares of Dye & Durham from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. BMO Capital Markets upped their target price on shares of Dye & Durham from C$18.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Cormark reduced their target price on shares of Dye & Durham from C$23.00 to C$17.50 in a research note on Monday, July 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Dye & Durham has an average rating of “Buy” and a consensus price target of C$22.08.

Dye & Durham Price Performance

The company has a debt-to-equity ratio of 402.18, a quick ratio of 1.98 and a current ratio of 1.00. The firm has a market capitalization of C$1.21 billion, a price-to-earnings ratio of -5.91 and a beta of 2.09. The company has a 50-day moving average of C$16.66 and a 200-day moving average of C$14.34.

Dye & Durham (TSE:DND) last announced its earnings results on Thursday, November 7th. The company reported C($0.14) earnings per share for the quarter. The company had revenue of C$119.93 million during the quarter, compared to analyst estimates of C$120.30 million. Dye & Durham had a negative return on equity of 42.91% and a negative net margin of 38.23%. As a group, research analysts anticipate that Dye & Durham Limited will post 0.1121051 EPS for the current fiscal year.

Dye & Durham Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a dividend of $0.019 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Thursday, November 14th. Dye & Durham’s dividend payout ratio is currently -2.73%.

About Dye & Durham

Dye & Durham Limited, together with its subsidiaries, provides cloud-based software and technology solutions for law firms, financial service institutions, sole-practitioner law firms, and government organizations in Canada, Australia, South Africa, Ireland, and the United Kingdom. It offers Practice Management, a real estate workflow and practice management software that enables legal professionals to execute every transaction with reliability, security, and ease; Data Insights and Due Diligence, a software that aggregates proprietary data and public records into valuable insights; and Payments Infrastructure, a software that helps people pay their bills and taxes in real time, as well as enables digital mortgage processing, and an integrated information search and managed banking services.