Canaccord Genuity Group (TSE:CF) Stock Rating Lowered by Raymond James Financial

Key Points

• Raymond James downgraded Canaccord Genuity Group from “strong buy” to “outperform,” while other analysts raised their price targets. The stock retains a consensus “buy” rating with an average target of C$17.33.
• Shares fell 3.5% to C$13.87 in Monday trading, below the 50-day moving average of C$14.44 but above the 200-day average of C$13.05.
• Canaccord reported quarterly revenue of C$577.43 million and earnings of C$0.36 per share, but posted a negative net margin of 5.94% and negative return on equity of 17.40%.

Canaccord Genuity Group (TSE:CF - Get Free Report) was downgraded by equities researchers at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a note issued to investors on Monday,BayStreet.CA reports.

Several other equities analysts also recently issued reports on CF. Ventum Financial upped their price objective on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a "buy" rating in a research note on Friday, June 5th. ATB Cormark Capital Markets lifted their target price on Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an "outperform" rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$17.33.

Canaccord Genuity Group Stock Down 3.5%

Shares of TSE:CF traded down C$0.50 during trading on Monday, hitting C$13.87. 443,153 shares of the company were exchanged, compared to its average volume of 207,474. The firm's 50 day moving average price is C$14.44 and its 200-day moving average price is C$13.05. Canaccord Genuity Group has a 12-month low of C$9.48 and a 12-month high of C$15.55. The company has a debt-to-equity ratio of 104.59, a current ratio of 1.14 and a quick ratio of 1.05. The stock has a market capitalization of C$1.39 billion, a P/E ratio of -9.57, a PEG ratio of 0.54 and a beta of 1.35.

Canaccord Genuity Group (TSE:CF - Get Free Report) last posted its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 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$577.43 million for the quarter. On average, research analysts predict that Canaccord Genuity Group will post 0.8618357 earnings per share for the current fiscal year.

Insider Transactions at Canaccord Genuity Group

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

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. 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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