ONEX (OTCMKTS:ONEXF) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• ONEX Corporation's share price has crossed above its 50-day moving average, currently sitting at $81.50 after trading as high as $81.75.
• Analysts maintain a positive outlook on ONEX, with "outperform" and "buy" ratings from firms like Scotiabank and TD Securities, contributing to an average rating of "Buy".
• ONEX recently increased its dividend to $0.0718, reflecting a yield of 35.0%, demonstrating a commitment to returning value to shareholders.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $81.53 and traded as high as $81.75. ONEX shares last traded at $81.50, with a volume of 10,793 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities restated a "buy" rating on shares of ONEX in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy".

ONEX Price Performance

The stock's 50-day moving average is $81.92 and its 200-day moving average is $75.20. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 11.62 and a beta of 1.35.

ONEX (OTCMKTS:ONEXF - Get Free Report) last announced its quarterly 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 for the quarter. ONEX had a net margin of 61.92% and a return on equity of 6.14%.

ONEX Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were issued a $0.0718 dividend. This is a boost from ONEX's previous dividend of $0.07. The ex-dividend date was Thursday, July 10th. This represents a dividend yield of 35.0%. ONEX's dividend payout ratio (DPR) is 3.96%.

About ONEX

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.