ONEX (OTCMKTS:ONEXF) Hits New 12-Month High - Still a Buy?

Key Points

• ONEX Corporation shares hit a new 52-week high at $89.95, closing with a trading volume of 2,453 shares.
• TD Securities affirmed a "buy" rating for ONEX, contributing to a current average rating of "Buy" from analysts.
• The company announced a dividend increase to $0.0718 per share, representing a yield of 35.0% and a payout ratio of 3.96%.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $89.95 and last traded at $89.95, with a volume of 2453 shares trading hands. The stock had previously closed at $88.09.

Analysts Set New Price Targets

Separately, TD Securities reaffirmed a "buy" rating on shares of ONEX in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy".

ONEX Price Performance

The business has a fifty day simple moving average of $84.21 and a two-hundred day simple moving average of $76.66. The company has a market cap of $6.29 billion, a PE ratio of 12.21 and a beta of 1.35.

ONEX (OTCMKTS:ONEXF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $3.30 earnings per share for the quarter. The company had revenue of $325.00 million during the quarter. ONEX had a return on equity of 6.12% and a net margin of 61.92%.

ONEX Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a dividend of $0.0718 per share. The ex-dividend date of this dividend was Thursday, July 10th. This is a boost from ONEX's previous dividend of $0.07. This represents a dividend yield of 35.0%. ONEX's payout ratio is currently 3.83%.

ONEX Company Profile

Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, large- middle market, large-cap, mid-cap, and small-cap market and distressed companies. It also invests in recapitalization, growth capital, corporate carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations, operational restructurings of undervalued businesses, and builds up.