Canaccord Genuity Group (TSE:CF) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Canaccord Genuity Group Inc. stock surpassed its 200-day moving average, with shares trading at C$10.43 after reaching a high of C$10.50.
• TD Securities upgraded the stock from a "hold" rating to a "buy" and increased the price target from C$10.00 to C$12.00.
• The company recently declared a quarterly dividend of $0.085 per share, providing a dividend yield of 3.3% based on an annualized dividend of $0.34.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.42 and traded as high as C$10.50. Canaccord Genuity Group shares last traded at C$10.43, with a volume of 136,438 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities raised 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 report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of C$12.38.

Canaccord Genuity Group Price Performance

The stock has a market capitalization of C$1.04 billion, a price-to-earnings ratio of -16.05, a PEG ratio of 0.54 and a beta of 1.54. The company has a debt-to-equity ratio of 117.91, a quick ratio of 1.05 and a current ratio of 1.23. The company has a fifty day simple moving average of C$10.47 and a two-hundred day simple moving average of C$9.42.

Canaccord Genuity Group Announces Dividend

The firm 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 of this dividend was Friday, August 29th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.3%. Canaccord Genuity Group's payout ratio is -52.31%.

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.

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