Canaccord Genuity Group (TSE:CF) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Canaccord Genuity Group shares moved above their 200-day moving average, trading as high as C$15.11 and last changing hands at C$14.91. This technical move may signal improving momentum for the stock.
• Ventum Financial raised its price target on the stock from C$15.50 to C$16.50 and maintained a buy rating. MarketBeat data shows an overall average rating of Buy with a consensus target price of C$16.25.
• The company recently reported quarterly EPS of C$0.48 and revenue of C$612.69 million, while also paying a quarterly dividend of C$0.10 per share. Insider activity included Director Donald Duncan Macfayden selling 29,000 shares in late June.

Shares of 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$12.79 and traded as high as C$15.11. Canaccord Genuity Group shares last traded at C$14.91, with a volume of 110,556 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Ventum Financial lifted their price target on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a "buy" rating in a report on Friday, June 5th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$16.25.

Canaccord Genuity Group Trading Down 0.6%

The business has a 50 day moving average of C$13.97 and a two-hundred day moving average of C$12.79. The firm has a market cap of C$1.50 billion, a P/E ratio of -10.28, a PEG ratio of 0.54 and a beta of 1.34. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 104.59.

Canaccord Genuity Group (TSE:CF - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The financial services provider reported C$0.48 EPS for the quarter. Canaccord Genuity Group had a negative net margin of 5.94% and a negative return on equity of 17.40%. The firm had revenue of C$612.69 million during the quarter. Analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, June 19th. Canaccord Genuity Group's dividend payout ratio (DPR) is currently -23.45%.

Insider Buying and Selling

In other Canaccord Genuity Group news, Director Donald Duncan Macfayden sold 29,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$14.82, for a total value of C$429,780.00. Following the transaction, the director directly owned 161,705 shares of the company's stock, valued at C$2,396,468.10. This represents a 15.21% decrease in their position. Company insiders own 4.61% of the company's stock.

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. 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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