Calian Group (TSE:CGY) Trading 3.1% Higher - Here's Why

Key Points

• Calian Group Ltd.'s share price increased by 3.1%, closing at C$52.55 with a trading volume slightly below its average.
• Analysts from Desjardins and Ventum Financial have lowered their price targets for the stock, with estimates now at C$59.00 and C$58.00, while CIBC raised its target to C$59.00.
• The company declared a quarterly dividend of $0.28 per share, representing an annualized yield of 2.1%, despite a high dividend payout ratio of -1,866.67%.

Calian Group Ltd. (TSE:CGY - Get Free Report)'s share price rose 3.1% during trading on Friday . The stock traded as high as C$52.82 and last traded at C$52.55. Approximately 31,134 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 32,940 shares. The stock had previously closed at C$50.96.

Analysts Set New Price Targets

CGY has been the subject of several analyst reports. Desjardins lowered their price objective on Calian Group from C$62.00 to C$59.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Ventum Financial lowered their price objective on Calian Group from C$60.00 to C$58.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Finally, CIBC increased their price objective on Calian Group from C$50.00 to C$59.00 in a research note on Monday, July 21st. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Calian Group presently has an average rating of "Buy" and an average price target of C$60.67.

Calian Group Stock Up 3.1%

The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 39.54. The company has a market capitalization of C$596.18 million, a PE ratio of -875.83, a P/E/G ratio of 2.50 and a beta of 0.57. The stock has a 50-day moving average of C$50.37 and a 200 day moving average of C$47.31.

Calian Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, September 9th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 26th. Calian Group's dividend payout ratio (DPR) is presently -1,866.67%.

Calian Group Company Profile

Calian Group Ltd operates through four segments namely Advanced Technologies, Health, Learning, and Information Technology. It generates maximum revenue from the Health segment. The company serves health, defence, security, aerospace, engineering, AgTech, and IT industries. Its Health segment includes Clinical Services; Nursing Services; Psychological Services and Medical Property Management.

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