Cranswick Share Price Forecast July 2021 – Time to Buy CWK?
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Shares of the leading food producer and supplier Cranswick PLC (LSE: CWK) are in the red at the moment (July 21 10:35 UTC+1) with the price rising and falling repeatedly during the last few months. This inconsistency in value makes is making investors wonder if it is the right time to invest in CWK shares.
Cranswick PLC – Technical Analysis
According to the financial statement revealed by the company, Cranswick PLC has a market cap of £2.015B and its total assets are worth £1.0607. The revenue of the company for 2020 was £1.90B compared to £1.67B in 2019. The market for CWK is open at the time of writing at £3922 with a downtrend of -0.10%.
The technical information of CWK reveals that moving averages such as Exponential Moving Average (10)(3941), Simple Moving Average (10)(3955), Volume Weighted Moving Average (20)(3984), and Simple Moving Average (20)(3989) are all pointing towards a sell action. Oscillators such as Momentum (10)(-206), and MACD Level (12, 26)(-23) are also pointing towards selling, while Stochastic RSI Fast (3, 3, 14, 14)(26), and Bull Bear Power (-71) are remaining neutral.
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Recent Developments
Chris Aldesrley, an insider sold shares worth £89K at £35.75 per share in March without the shareholders noticing. It was a financial blow to the company. However, the sale only decreased the total holding of the shareholders by 8.3%. Although, this fact cannot be denied that insider selling of CWK shares was more than buying during the last year.
Coronavirus caused financial uncertainty over the food industry, and Cranswick PLC also became a victim. During June, the share price of the company had moved by 21.1% and the shares were trading at £4076, but the future was still uncertain.
The company also announced in June that it would increase its dividend to £0.51 on September 3. According to the announced payment, the dividend yield for Cranswick PLC is going to be 1.7%, which is very usual in the industry. The company aims for its EPS to grow by 16.4% by the next year and it may result in a very sustainable range of payout ratio at 37% by 2022.
Should You Buy CWK Shares?
As an investor, you need to pay attention to the factors that can move the share price of Cranswick. Based on the performance in the market during the last few months, CWK shares do not appear to be convincing at the moment. Moreover, as mentioned earlier, no technical indicator is pointing towards a buy action. All moving averages and most oscillators are pointing towards selling, while some oscillators are neutral. So, it is clear that this is not the right time to purchase CWK shares.
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