Guardian Capital Group (TSE:GCG.A) Stock Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• The share price of Guardian Capital Group (TSE:GCG.A) dropped below its 200-day moving average, indicating potential bearish market sentiment.
• Scotiabank has revised its target price for Guardian Capital from C$54.00 to C$53.00 while maintaining an "outperform" rating on the stock.
• The company recently increased its quarterly dividend to $0.39, with an annualized yield of 3.72%, up from the previous $0.37.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$42.00 and traded as low as C$41.49. Guardian Capital Group shares last traded at C$41.98, with a volume of 600 shares traded.

Analysts Set New Price Targets

Separately, Scotiabank lowered their target price on Guardian Capital Group from C$54.00 to C$53.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd.

Guardian Capital Group Price Performance

The company has a fifty day simple moving average of C$41.77 and a 200-day simple moving average of C$41.94. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 14.28. The firm has a market cap of C$936.80 million, a P/E ratio of 17.35, a price-to-earnings-growth ratio of -22.04 and a beta of 1.11.

Guardian Capital Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 18th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, July 11th. This is a positive change from Guardian Capital Group's previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 3.70%. Guardian Capital Group's dividend payout ratio is presently 60.91%.

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.