Onex (TSE:ONEX) Stock Price Target Cut by RBC Dominion Securities

Key Points

• RBC Dominion Securities cut Onex’s price target from C$135 to C$129 while maintaining a “sector perform” rating, implying approximately 27% upside from the prior close.
• Analyst sentiment remains positive overall, with four Buy ratings and three Holds; Onex has a consensus “Moderate Buy” rating and an average target price of C$151.
• Onex shares rose 1.1% to C$101.61, while the company’s latest quarter reported C$2.43 in EPS and C$287 million in revenue.

Onex (TSE:ONEX - Get Free Report) had its price target reduced by equities researchers at RBC Dominion Securities from C$135.00 to C$129.00 in a research note issued to investors on Thursday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. RBC Dominion Securities' price objective points to a potential upside of 26.96% from the stock's previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets set a C$160.00 target price on Onex and gave the stock an "outperform" rating in a research note on Thursday, October 1st. TD dropped their price target on Onex from C$165.00 to C$163.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, Royal Bank Of Canada raised their price target on Onex from C$130.00 to C$135.00 and gave the company a "sector perform" rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Onex presently has a consensus rating of "Moderate Buy" and a consensus target price of C$151.00.

Onex Trading Up 1.1%

TSE ONEX traded up C$1.11 on Thursday, reaching C$101.61. The company had a trading volume of 128,415 shares, compared to its average volume of 116,599. Onex has a 52 week low of C$95.15 and a 52 week high of C$131.38. The stock's 50 day moving average is C$109.84 and its 200-day moving average is C$109.17. The company has a quick ratio of 2.41, a current ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a market cap of C$7.75 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.47 and a beta of 0.84.

Onex (TSE:ONEX - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C$2.43 earnings per share (EPS) for the quarter. The company had revenue of C$287.00 million during the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%. Equities analysts predict that Onex will post 0.44 earnings per share for the current year.

About Onex

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices. Investing revenue primarily comes from net gains on corporate investments and CLOs (collateralized loan investments). Asset and wealth management revenue comes primarily from management and performance fees.

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