ONEX (OTCMKTS:ONEXF) Stock Passes Above 50-Day Moving Average - Should You Sell?

Key Points

• ONEX Corporation's stock price has crossed above its 50-day moving average of $79.01, with shares trading at $83.32.
• Scotiabank has reiterated an "outperform" rating for ONEX, indicating positive market sentiment towards the stock.
• The company recently announced a dividend increase, raising the payout to $0.0718 per share, representing a yield of 0.35%.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $79.01 and traded as high as $83.34. ONEX shares last traded at $83.32, with a volume of 10,275 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank restated an "outperform" rating on shares of ONEX in a research note on Thursday, April 24th.

ONEX Trading Down 0.4%

The business has a 50-day moving average price of $79.01 and a two-hundred day moving average price of $74.62. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.42 and a beta of 1.33.

ONEX (OTCMKTS:ONEXF - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $2.36 earnings per share for the quarter. The business had revenue of $211.00 million for the quarter. ONEX had a return on equity of 5.40% and a net margin of 60.42%.

ONEX Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.0718 per share. This represents a dividend yield of 0.35%. This is a boost from ONEX's previous dividend of $0.07. The ex-dividend date is Thursday, July 10th. ONEX's dividend payout ratio is presently 4.67%.

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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