Canaccord Genuity Group (TSE:CF) Share Price Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Canaccord Genuity Group shares rose 0.8%, trading as high as C$14.32 and moving above their 50-day average of C$13.92.
• Analyst sentiment remains positive overall, with five Buy ratings and an average price target of C$17.50; TD and ATB Cormark recently raised their targets, while Raymond James downgraded the stock to “moderate buy.”
• The company reported C$0.36 in quarterly EPS on C$577.43 million in revenue and declared a quarterly dividend of C$0.10, equivalent to a 2.9% annualized yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report)'s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of C$13.92 and traded as high as C$14.32. Canaccord Genuity Group shares last traded at C$13.95, with a volume of 115,758 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CF shares. Raymond James Financial downgraded shares of Canaccord Genuity Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, August 10th. TD boosted their price target on Canaccord Genuity Group from C$16.00 to C$18.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, ATB Cormark Capital Markets upped their price objective on Canaccord Genuity Group from C$18.25 to C$19.50 and gave the company an "outperform" rating in a research note on Monday, August 10th. Five analysts have rated the stock with a Buy rating. According to MarketBeat.com, Canaccord Genuity Group currently has an average rating of "Buy" and an average price target of C$17.50.

Canaccord Genuity Group Stock Up 0.8%

The company has a debt-to-equity ratio of 179.85, a quick ratio of 1.05 and a current ratio of 8.03. The firm has a fifty day moving average price of C$13.92 and a 200 day moving average price of C$13.31. The firm has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -13.29, a PEG ratio of 0.54 and a beta of 1.41.

Canaccord Genuity Group (TSE:CF - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share for the quarter. Canaccord Genuity Group had a negative return on equity of 12.68% and a negative net margin of 3.95%. The firm had revenue of C$577.43 million for the quarter. As a group, sell-side analysts expect that Canaccord Genuity Group Inc. will post 0.86 EPS for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, September 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.9%. Canaccord Genuity Group's dividend payout ratio (DPR) is -33.81%.

About Canaccord Genuity Group

Canaccord Genuity Group Inc, a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, merger and acquisition, sales, and trading services. The Canaccord Genuity Wealth Management segment provides wealth management solutions, and brokerage and financial planning services to individual investors, private clients, charities, and intermediaries.

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