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

Key Points

• Guardian Capital Group's stock fell below its 200-day moving average of C$41.56, trading at C$41.02 during recent sessions.
• Scotiabank has reduced its price target for the stock from C$54.00 to C$53.00, while still maintaining an "outperform" rating.
• The company recently announced a quarterly dividend increase to $0.39, resulting in an annualized yield of 3.8%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.56 and traded as low as C$40.76. Guardian Capital Group shares last traded at C$41.02, with a volume of 4,701 shares changing hands.

Wall Street Analysts Forecast Growth

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

Guardian Capital Group Stock Performance

The company has a 50-day moving average of C$41.48 and a 200-day moving average of C$41.45. The company has a market cap of C$922.57 million, a PE ratio of 17.09, a PEG ratio of -22.04 and a beta of 1.11. 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 company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 18th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, July 11th. This is a positive change from Guardian Capital Group's previous quarterly dividend of $0.37. Guardian Capital Group's dividend payout ratio (DPR) is currently 60.91%.

About Guardian Capital Group

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.