Canaccord Genuity Group (TSE:CF) Stock Passes Above 200 Day Moving Average - Here's What Happened

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)'s stock price crossed 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 traded.

Analyst Ratings Changes

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

Canaccord Genuity Group Trading Up 0.2%

The company has a fifty day moving average price of C$10.45 and a 200-day moving average price of C$9.47. The firm has a market capitalization of C$1.03 billion, a price-to-earnings ratio of -15.89, a price-to-earnings-growth ratio of 0.54 and a beta of 1.54. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 117.91.

Canaccord Genuity Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, September 10th were issued a dividend of $0.085 per share. This represents a $0.34 annualized dividend 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 currently -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.