Canaccord Genuity Group (TSE:CF) Shares Break Above 200-Day Moving Average - Should You Sell?

Key Points

• Canaccord Genuity Group shares moved above their 200-day moving average of C$13.65, reaching C$13.66 before closing at C$13.52.
• Analysts remain positive, with five Buy ratings, a consensus rating of “Buy”, and an average price target of C$17.50; TD and ATB Cormark recently raised their targets.
• The company reported quarterly revenue of C$577.43 million and EPS of C$0.36, while maintaining a quarterly dividend of C$0.10 per share, equivalent to a 3.0% annual yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$13.65 and traded as high as C$13.66. Canaccord Genuity Group shares last traded at C$13.52, with a volume of 192,307 shares trading hands.

Analysts Set New Price Targets

Several research firms recently issued reports on CF. TD upped 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. Raymond James Financial lowered shares of Canaccord Genuity Group from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, August 10th. Finally, ATB Cormark Capital Markets upped their target price 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. Five equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$17.50.

Canaccord Genuity Group Trading Down 0.1%

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 capitalization of C$1.38 billion, a price-to-earnings ratio of -12.88, a PEG ratio of 0.54 and a beta of 1.41. The firm has a 50-day moving average of C$14.12 and a 200 day moving average of C$13.65.

Canaccord Genuity Group (TSE:CF - Get Free Report) last announced its quarterly 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 return on equity of 12.68% and a negative net margin of 3.95%. The company had revenue of C$577.43 million during the quarter. As a group, equities analysts predict that Canaccord Genuity Group Inc. will post 0.86 EPS for the current fiscal year.

Canaccord Genuity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, September 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 28th. Canaccord Genuity Group's payout ratio is currently -33.81%.

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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