ONEX (OTCMKTS:ONEXF) Share Price Passes Below Fifty Day Moving Average - Here's Why

Key Points

• ONEX Corporation's share price fell below its fifty-day moving average of $85.95, trading at $83.33, indicating potential bearish sentiment among investors.
• Analysts currently rate ONEX with an average of "Moderate Buy," with two giving Buy ratings and one a Hold rating.
• The company has announced an increase in its dividend to $0.0727 per share, reflecting a yield of 32.0%, which is a positive change from the previous dividend of $0.07.

Shares of ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $85.95 and traded as low as $82.65. ONEX shares last traded at $83.33, with a volume of 20,605 shares traded.

Analysts Set New Price Targets

ONEXF has been the subject of a number of recent research reports. TD Securities restated a "buy" rating on shares of ONEX in a research note on Friday, August 8th. Royal Bank Of Canada initiated coverage on ONEX in a research note on Wednesday, October 1st. They issued a "hold" rating for the company. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

ONEX Stock Down 1.2%

The business has a 50-day simple moving average of $85.95 and a two-hundred day simple moving average of $79.43. The stock has a market capitalization of $5.72 billion, a P/E ratio of 11.38 and a beta of 1.34.

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. ONEX had a return on equity of 6.12% and a net margin of 61.92%.The firm had revenue of $325.00 million for the quarter.

ONEX Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 13th will be given a $0.0727 dividend. This represents a yield of 32.0%. This is a positive change from ONEX's previous dividend of $0.07. The ex-dividend date is Friday, October 10th. ONEX's dividend payout ratio (DPR) is currently 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.

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