Canaccord Genuity Group (TSE:CF) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Canaccord Genuity Group shares recently crossed above their 200-day moving average, indicating potential growth, with the stock trading as high as C$10.94.
• TD Securities upgraded the stock from a "hold" to a "buy" rating, raising the price target from C$10.00 to C$12.00, with a current consensus price target of C$12.38.
• The company declared a quarterly dividend of $0.085, resulting in an annualized dividend yield of 3.2%.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.70 and traded as high as C$10.94. Canaccord Genuity Group shares last traded at C$10.58, with a volume of 74,955 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities upgraded shares of Canaccord Genuity Group from a "hold" rating to a "buy" rating and raised their price target for the stock 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, According to data from MarketBeat, Canaccord Genuity Group currently has a consensus rating of "Buy" and a consensus price target of C$12.38.

Canaccord Genuity Group Stock Down 2.6%

The business's 50 day moving average price is C$10.33 and its 200-day moving average price is C$9.70. The company has a debt-to-equity ratio of 117.91, a current ratio of 1.23 and a quick ratio of 1.05. The company has a market cap of C$1.06 billion, a P/E ratio of -16.28, a PEG ratio of 0.54 and a beta of 1.43.

Canaccord Genuity Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, September 10th were paid a $0.085 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.2%. Canaccord Genuity Group's 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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