Canaccord Genuity Group (TSE:CF) Sets New 52-Week High - Still a Buy?

Key Points

• Canaccord Genuity Group's stock reached a new 52-week high of C$11.88, with a last traded price of C$11.77.
• TD Securities upgraded the stock from a "hold" to a "buy" rating, with a new price target of C$12.00.
• The company announced a quarterly dividend of $0.085 per share, resulting in an annualized dividend yield of 2.9%.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$11.88 and last traded at C$11.77, with a volume of 79690 shares trading hands. The stock had previously closed at C$10.24.

Analyst Ratings Changes

Separately, TD Securities raised shares of Canaccord Genuity Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from C$10.00 to C$12.00 in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$12.38.

Canaccord Genuity Group Stock Up 14.7%

The firm's fifty day moving average price is C$10.28 and its 200-day moving average price is C$9.77. The company has a market capitalization of C$1.18 billion, a price-to-earnings ratio of -18.08, a P/E/G ratio of 0.54 and a beta of 1.43. The company has a debt-to-equity ratio of 117.91, a current ratio of 1.23 and a quick ratio of 1.05.

Canaccord Genuity Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, September 10th were issued a dividend of $0.085 per share. The ex-dividend date was Friday, August 29th. This represents a $0.34 annualized dividend and a dividend yield of 2.9%. Canaccord Genuity Group's dividend payout ratio is -52.31%.

About Canaccord Genuity Group

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.

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