Canaccord Genuity Group (TSE:CF) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Canaccord Genuity Group shares crossed above their 200-day moving average, reaching C$14.43 before closing at C$14.18, compared with a 200-day average of C$13.17.
• Analyst sentiment remains positive: five analysts rate the stock a Buy, with a consensus price target of C$17.50. Recent targets range from C$16.50 to C$19.50.
• The company reported quarterly EPS of C$0.36 on revenue of C$577.43 million and declared a quarterly dividend of C$0.10, equivalent to a 2.8% annual yield; however, it reported negative net margin and return on equity.

Shares of Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.17 and traded as high as C$14.43. Canaccord Genuity Group shares last traded at C$14.18, with a volume of 155,704 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Ventum Financial raised their price target on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a "buy" rating in a report on Friday, June 5th. ATB Cormark Capital Markets upped their price objective on Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an "outperform" rating in a report on Monday, August 10th. TD increased their price objective on Canaccord Genuity Group from C$16.00 to C$18.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Raymond James Financial cut Canaccord Genuity Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Canaccord Genuity Group presently has an average rating of "Buy" and a consensus target price of C$17.50.

Canaccord Genuity Group Trading Down 2.1%

The company has a debt-to-equity ratio of 179.85, a quick ratio of 1.05 and a current ratio of 8.03. The company has a market capitalization of C$1.46 billion, a price-to-earnings ratio of -13.50, a P/E/G ratio of 0.54 and a beta of 1.35. The business's 50-day simple moving average is C$14.59 and its 200-day simple moving average is C$13.17.

Canaccord Genuity Group (TSE:CF - Get Free Report) last issued its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share (EPS) for the quarter. The company had revenue of C$577.43 million for the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. On average, research analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a yield of 2.8%. Canaccord Genuity Group's dividend payout ratio (DPR) is presently -33.81%.

Insider Buying and Selling

In other Canaccord Genuity Group news, Director Donald Duncan Macfayden sold 20,000 shares of Canaccord Genuity Group stock in a transaction on Tuesday, June 23rd. The shares were 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. The trade was a 12.37% decrease in their position. Corporate insiders own 4.61% of the company's stock.

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. 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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