Canaccord Genuity Group (TSE:CF) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canaccord Genuity Group's share price recently surpassed its 200-day moving average, indicating potential bullish momentum, as the stock last traded at C$10.29.
• TD Securities upgraded Canaccord Genuity's rating from "hold" to "buy" and increased the target price from C$10.00 to C$12.00, reflecting positive market sentiment.
• The company declared a quarterly dividend of $0.085, which translates to an annual yield of 3.3% despite a negative dividend payout ratio of -52.31%.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.51 and traded as high as C$10.30. Canaccord Genuity Group shares last traded at C$10.29, with a volume of 141,870 shares traded.

Wall Street Analyst Weigh In

Separately, TD Securities raised 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 analyst has rated the stock with a Buy rating, According to MarketBeat, Canaccord Genuity Group has a consensus rating of "Buy" and a consensus price target of C$12.38.

Canaccord Genuity Group Stock Performance

The company has a 50-day moving average price of C$10.40 and a two-hundred day moving average price of C$9.53. The company has a market capitalization of C$1.03 billion, a PE ratio of -15.88, a PEG ratio of 0.54 and a beta of 1.54. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 117.91.

Canaccord Genuity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, September 10th were issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 29th. Canaccord Genuity Group's dividend payout ratio (DPR) 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.