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

Key Points

• Canaccord Genuity Group shares moved above their 200-day moving average, reaching C$13.87 before closing at C$13.63, compared with the C$13.40 long-term average.
• Analysts remain broadly positive: the stock has an average “Buy” rating and a C$17.50 average price target, with several firms recently raising their targets.
• The company reported C$0.36 in quarterly EPS on C$577.43 million in revenue and paid a quarterly C$0.10 dividend, equivalent to a 2.9% annualized yield; however, it continues to show negative net margin and return on equity.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.40 and traded as high as C$13.87. Canaccord Genuity Group shares last traded at C$13.63, with a volume of 248,370 shares.

Analysts Set New Price Targets

CF has been the topic of a number of research reports. TD upped their price target on shares of Canaccord Genuity Group from C$16.00 to C$18.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. ATB Cormark Capital Markets raised their price objective on shares of Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Raymond James Financial downgraded shares of Canaccord Genuity Group from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, August 10th. Finally, Ventum Financial boosted their price objective on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a "buy" rating in a report on Friday, June 5th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$17.50.

Canaccord Genuity Group Stock Down 1.9%

The company has a current ratio of 8.03, a quick ratio of 1.05 and a debt-to-equity ratio of 179.85. The stock has a market cap of C$1.37 billion, a P/E ratio of -12.98, a PEG ratio of 0.54 and a beta of 1.39. The firm has a 50-day simple moving average of C$14.53 and a two-hundred day simple moving average of C$13.40.

Canaccord Genuity Group (TSE:CF - Get Free Report) last announced its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share (EPS) for the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. The company had revenue of C$577.43 million during the quarter. Equities research analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The firm also recently disclosed 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 payout ratio is currently -33.81%.

Insider Transactions at Canaccord Genuity Group

In other Canaccord Genuity Group news, Director Donald Duncan Macfayden sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$14.59, for a total transaction of C$291,800.00. Following the transaction, the director owned 141,705 shares in the company, valued at C$2,067,475.95. This represents a 12.37% decrease in their position. 4.61% of the stock is owned by corporate insiders.

Canaccord Genuity Group Company Profile

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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