Tricon Residential Inc. (NYSE:TCN) finished Wednesday with a subtraction of -$0.3 to close at $8.66, a downside of -3.35 percent. An average of 685,520 shares of common stock have been traded in the last five days. There was a fall of -$0.42 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 667,340 shares traded, while the 50-day average volume stands at 722,246.
TCN stock has decreased by -4.42% in the last month. The company shares reached their 1-month lowest point of $8.35 on 08/09/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $7.18 and a high of $12.19 in 52 weeks. It has reached a new high 17 times so far this year and achieved 12.32% or $0.95 in price. In spite of this, the price is down -28.96% from the 52-week high.
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Valuation Metrics
Tricon Residential Inc. (TCN) has a trailing price-to-earnings (P/E) ratio of 4.42. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.73, the price-to-book (PB) ratio at 0.47.
Financial Health
The quick ratio of Tricon Residential Inc. for the three months ended March 30 was 0.20, and the current ratio was 0.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.32 and a total debt to equity ratio of 1.57 for the quarter ending March 30. Its gross profit as reported stood at $436.5 million compared to revenue of $645.59 million.
Earnings Surprise
The analyst consensus anticipated Tricon Residential Inc.’s latest quarter earnings to come in at $0.11 per share, but it turned out to be $0.08, a -27.30% surprise. For the quarter, EBITDA amounted to $97.51 million. At the end of the quarter ending March 30, Tricon Residential Inc.’s stock balance sheet showed total liabilities of 9.1 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Tricon Residential Inc. (TCN) price momentum. RSI 9-day as of the close on 09 August was 31.11%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.64%.
As of today, TCN’s price is $8.92 -4.63% or -$0.42 from its 5-day moving average. TCN is currently trading -5.15% lower than its 20-day SMA and +9.90% higher than its 100-day SMA. However, the stock’s current price level is +9.07% above the SMA50 and +2.24% above the SMA200.
The stochastic %K and %D were 30.06% and 29.15%, respectively, and the average true range (ATR) was 0.25. With the 14-day stochastic at 25.62% and the average true range at 0.23, the RSI (14) stands at 38.24%. The stock has reached -0.15 on the 9-day MACD Oscillator while the 14-day reading was at -0.25.
Analyst Ratings
Mizuho launched coverage on Tricon Residential Inc. (NYSE: TCN) in its analyst report released on March 22, 2023. The firm assigned the stock a Buy rating. The consensus rating for Tricon Residential Inc. (TCN) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TCN, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 11 others rate it as a “buy”.
What is TCN’s price target for the next 12 months?
Analysts predict a range of price targets between $8.50 and $12.00, with a median target of $10.00. Taking a look at these predictions, the average price target given by analysts for Tricon Residential Inc. (TCN) stock is $10.07.
