Guardian Capital Group (TSE:GCG.A) Hits New 52-Week High - What's Next?

Key Points

• Guardian Capital Group's stock price reached a new 52-week high at C$67.00 before closing at C$66.35, significantly up from its previous close of C$40.94.
• Scotiabank has adjusted its price target for Guardian Capital Group from C$54.00 to C$53.00 while maintaining an "outperform" rating; the stock holds an average rating of "Buy" with a target price of C$52.00.
• The company recently increased its quarterly dividend to $0.39 per share, leading to an annualized total of $1.56 with a dividend yield of 2.3%, reflecting a payout ratio of 60.91%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as C$67.00 and last traded at C$66.35, with a volume of 23393 shares. The stock had previously closed at C$40.94.

Analyst Upgrades and Downgrades

Separately, Scotiabank reduced their price objective on shares of Guardian Capital Group from C$54.00 to C$53.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$52.00.

Guardian Capital Group Trading Down 0.1%

The stock has a market capitalization of C$1.64 billion, a PE ratio of 10.81, a PEG ratio of -22.04 and a beta of 0.82. The stock's 50 day moving average price is C$43.05 and its 200-day moving average price is C$41.89. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 14.28.

Guardian Capital Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 18th were given a dividend of $0.39 per share. This is a positive change from Guardian Capital Group's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.56 dividend on an annualized basis and a 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.