RediShred Capital (CVE:KUT) Hits New 12-Month High – What’s Next?

RediShred Capital Corp. (CVE:KUT)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$4.67 and last traded at C$4.25, with a volume of 4762 shares changing hands. The stock had previously closed at C$4.19.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KUT. Cormark boosted their price objective on RediShred Capital from C$5.75 to C$6.00 in a research report on Friday, August 30th. Singular Research raised RediShred Capital to a “strong-buy” rating in a report on Monday, September 30th.

RediShred Capital Price Performance

The company has a quick ratio of 1.33, a current ratio of 0.46 and a debt-to-equity ratio of 69.47. The company has a market capitalization of C$76.72 million, a PE ratio of 32.69 and a beta of 1.31. The company’s 50 day moving average is C$3.42 and its two-hundred day moving average is C$3.17.

RediShred Capital (CVE:KUT) last announced its quarterly earnings results on Wednesday, August 28th. The company reported C$0.05 EPS for the quarter, meeting analysts’ consensus estimates of C$0.05. RediShred Capital had a return on equity of 5.09% and a net margin of 3.69%. The company had revenue of C$17.95 million during the quarter, compared to analyst estimates of C$18.28 million. On average, analysts anticipate that RediShred Capital Corp. will post 0.2007114 earnings per share for the current year.

About RediShred Capital

RediShred Capital Corp., together with its subsidiaries, operates the Proshred franchise and license business in the United States. The company operates through three segments: Franchising and licensing, Corporate Locations, and Corporate. It grants and manages shredding business franchises under the Proshred brand, as well as operates corporate shredding locations.