Guardian Capital Group (TSE:GCG.A) Sets New 52-Week High - Should You Buy?

Key Points

• Guardian Capital Group shares reached a new 52-week high of C$67.20 during trading, indicating positive market sentiment.
• Scotiabank has lowered its price target for the stock from C$54.00 to C$53.00, while still maintaining an "outperform" rating.
• The company recently increased its quarterly dividend from $0.37 to $0.39, reflecting a solid annualized yield of 2.3%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as C$67.20 and last traded at C$67.19, with a volume of 14127 shares. The stock had previously closed at C$66.88.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price target on Guardian Capital Group from C$54.00 to C$53.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of C$52.00.

Guardian Capital Group Trading Up 0.3%

The company has a current ratio of 1.03, a quick ratio of 0.64 and a debt-to-equity ratio of 14.28. The stock has a market capitalization of C$1.65 billion, a price-to-earnings ratio of 10.87, a PEG ratio of -22.04 and a beta of 1.24. The firm has a 50-day moving average of C$47.52 and a 200 day moving average of C$43.32.

Guardian Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 18th were given a dividend of $0.39 per share. This is a boost from Guardian Capital Group's previous quarterly dividend of $0.37. The ex-dividend date was Friday, July 11th. This represents a $1.56 annualized dividend and a dividend yield of 2.3%. Guardian Capital Group's payout ratio is 24.27%.

Guardian Capital Group Company Profile

Guardian Capital Group Ltd is a diversified financial services company. It operates in two main business areas, Asset Management and Financial Advisory. Guardian offers institutional and private wealth investment management services; financial services to international investors; services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network; and maintains and manages a proprietary investment portfolio.