Canaccord Genuity Group (TSE:CF) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Canaccord Genuity Group's stock price has crossed above its 200-day moving average, reaching a high of C$10.07 during trading, with the last trade at C$10.04.
• TD Securities has upgraded the stock from a "hold" to a "buy" rating and increased the price target to C$12.00, with an average target price currently at C$12.38.
• The company announced a quarterly dividend of $0.085, which translates to an annualized dividend of $0.34 and a 3.4% dividend yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.28 and traded as high as C$10.07. Canaccord Genuity Group shares last traded at C$10.04, with a volume of 59,507 shares trading hands.

Wall Street Analysts Forecast Growth

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 research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$12.38.

Canaccord Genuity Group Price Performance

The stock has a 50-day simple moving average of C$10.49 and a 200 day simple moving average of C$9.32. 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 market cap of C$1.02 billion, a P/E ratio of -15.65, a P/E/G ratio of 0.54 and a beta of 1.74.

Canaccord Genuity Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, September 10th will be given a $0.085 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.3%. Canaccord Genuity Group's dividend payout ratio (DPR) is currently -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.