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

Key Points

• Canaccord Genuity Group's stock price has crossed above its 200-day moving average of C$9.35, reaching a high of C$10.27 during trading.
• TD Securities upgraded the stock from a "hold" to a "buy" rating and increased the target price from C$10.00 to C$12.00.
• A quarterly dividend of $0.085 will be paid to investors on September 10th, representing an annualized yield of 3.3%.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.35 and traded as high as C$10.27. Canaccord Genuity Group shares last traded at C$10.24, with a volume of 263,114 shares trading hands.

Analyst Upgrades and Downgrades

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

Canaccord Genuity Group Stock Performance

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 stock has a 50-day simple moving average of C$10.48 and a 200-day simple moving average of C$9.38. The stock has a market cap of C$1.01 billion, a PE ratio of -15.55, a P/E/G ratio of 0.54 and a beta of 1.54.

Canaccord Genuity Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, September 10th will be given a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, August 29th. 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.