Canaccord Genuity Group (TSE:CF) Reaches New 1-Year High - Here's Why

Key Points

• Canaccord Genuity Group hit a new 52-week high, trading as high as C$15.24 after closing previously at C$14.84.
• Analyst sentiment remains positive: Ventum Financial raised its price target from C$15.50 to C$16.50 and kept a buy rating, with the stock’s consensus rating also at Buy and an average target of C$16.25.
• The company recently reported quarterly EPS of C$0.48 on revenue of C$612.69 million and continues to pay a quarterly dividend of C$0.10 per share, implying a 2.6% annualized yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$15.24 and last traded at C$15.22, with a volume of 75851 shares traded. The stock had previously closed at C$14.84.

Analyst Upgrades and Downgrades

Separately, Ventum Financial raised their price objective on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a "buy" rating in a research report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$16.25.

Canaccord Genuity Group Stock Performance

The company's fifty day simple moving average is C$13.63 and its two-hundred day simple moving average is C$12.62. The company has a debt-to-equity ratio of 104.59, a quick ratio of 1.05 and a current ratio of 1.14. The stock has a market capitalization of C$1.53 billion, a P/E ratio of -10.48, a PEG ratio of 0.54 and a beta of 1.34.

Canaccord Genuity Group (TSE:CF - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share (EPS) for the quarter. The company had revenue of C$612.69 million during the quarter. Canaccord Genuity Group had a negative return on equity of 17.40% and a negative net margin of 5.94%. As a group, equities analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, June 19th. Canaccord Genuity Group's dividend payout ratio is currently -23.45%.

Insider Buying and Selling at Canaccord Genuity Group

In other news, Director Donald Duncan Macfayden sold 20,000 shares of Canaccord Genuity Group stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$14.59, for a total transaction of C$291,800.00. Following the completion of the sale, the director owned 141,705 shares of the company's stock, valued at approximately C$2,067,475.95. This trade represents a 12.37% decrease in their ownership of the stock. Corporate insiders own 4.61% of the company's stock.

Canaccord Genuity Group Company Profile

Canaccord Genuity Group Inc, a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, merger and acquisition, sales, and trading services. The Canaccord Genuity Wealth Management segment provides wealth management solutions, and brokerage and financial planning services to individual investors, private clients, charities, and intermediaries.

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