ONEX (OTCMKTS:ONEXF) Stock Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• ONEX Corporation's stock has fallen below its 50-day moving average of $85.67, trading at $83.15 with a volume of 8,195 shares.
• The company recently increased its dividend to $0.0727 per share, which represents a yield of 32.0% and will be paid on October 31st.
• Analysts have given ONEX a consensus rating of "Moderate Buy," with two analysts rating it as a Buy and one as a Hold.

ONEX Corporation (OTCMKTS:ONEXF - Get Free Report) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $85.67 and traded as low as $83.15. ONEX shares last traded at $83.15, with a volume of 8,195 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on ONEXF. Royal Bank Of Canada began coverage on shares of ONEX in a research report on Wednesday, October 1st. They set a "hold" rating for the company. TD Securities reissued a "buy" rating on shares of ONEX in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, ONEX has a consensus rating of "Moderate Buy".

ONEX Stock Performance

The company has a market capitalization of $5.70 billion, a PE ratio of 11.36 and a beta of 1.34. The business's 50-day moving average is $85.67 and its 200-day moving average is $78.60.

ONEX (OTCMKTS:ONEXF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.30 earnings per share (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 during the quarter.

ONEX Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 13th will be given a dividend of $0.0727 per share. This is an increase 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 dividend payout ratio is 3.96%.

ONEX Company Profile

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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