ONEX (OTCMKTS:ONEXF) Shares Gap Down - Should You Sell?

Key Points

• ONEX Corporation's stock gapped down to $86.86 during trading, a decline from its previous close of $89.49.
• The company has a consensus rating of "Moderate Buy", with two analysts rating it as a Buy and one as a Hold.
• ONEX announced a dividend increase to $0.0727 per share, with a yield of 32.0%, set to be paid on October 31st.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $89.49, but opened at $86.86. ONEX shares last traded at $86.86, with a volume of 220 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ONEXF shares. Royal Bank Of Canada started coverage on shares of ONEX in a research report on Wednesday. They issued a "sector perform" rating for the company. TD Securities reissued a "buy" rating on shares of ONEX in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

ONEX Trading Down 2.9%

The stock has a market capitalization of $5.96 billion, a PE ratio of 11.87 and a beta of 1.35. The stock's fifty day simple moving average is $85.07 and its 200-day simple moving average is $77.68.

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

ONEX Increases Dividend

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