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

Key Points

• Canaccord Genuity Group's stock price surpassed its 200-day moving average during trading, reaching a high of C$10.82 before closing at C$10.71.
• TD Securities upgraded the stock from a "hold" to a "buy" rating, increasing the price target from C$10.00 to C$12.00, indicating a positive outlook.
• The company recently declared a quarterly dividend of $0.085 per share, which represents a 3.2% dividend yield on an annual basis.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.61 and traded as high as C$10.82. Canaccord Genuity Group shares last traded at C$10.71, with a volume of 79,198 shares.

Analysts Set New Price Targets

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

Canaccord Genuity Group Price 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 market cap of C$1.07 billion, a price-to-earnings ratio of -16.48, a P/E/G ratio of 0.54 and a beta of 1.54. The stock has a fifty day moving average of C$10.34 and a 200 day moving average of C$9.61.

Canaccord Genuity Group Announces Dividend

The company also recently announced 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. 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 3.2%. 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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