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

Key Points

• ONEX Corporation's stock price recently surpassed its 50-day moving average of $85.22, reaching a high of $87.01 during trading.
• The company has declared a dividend increase to $0.0727, up from $0.07, with a payout planned for October 31st.
• Analysts have set a "Moderate Buy" average rating for the stock, with TD Securities issuing a "buy" rating and Royal Bank of Canada providing a "hold" rating.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report)'s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $85.22 and traded as high as $87.01. ONEX shares last traded at $87.01, with a volume of 6,457 shares.

Analysts Set New Price Targets

ONEXF has been the topic of a number of research analyst reports. Royal Bank Of Canada initiated coverage on shares of ONEX in a report on Wednesday. They issued a "hold" rating on the stock. TD Securities reissued a "buy" rating on shares of ONEX in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

ONEX Trading Up 0.2%

The company's fifty day moving average is $85.22 and its 200 day moving average is $77.87. The company has a market cap of $5.97 billion, a P/E ratio of 11.89 and a beta of 1.34.

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

ONEX Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 13th will be issued a $0.0727 dividend. This is a boost from ONEX's previous dividend of $0.07. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 32.0%. ONEX's payout ratio 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.

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