Canaccord Genuity Group (TSE:CF) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Canaccord Genuity Group shares rose above their 200-day moving average, reaching C$14.23 before closing at C$14.09, compared with the C$13.46 long-term average.
• Analysts remain broadly optimistic: five firms rate the stock a Buy, with an average price target of C$17.50; several firms recently raised their targets.
• The company reported quarterly EPS of C$0.36 on C$577.43 million in revenue and pays a quarterly dividend of C$0.10, equivalent to a 2.8% annual yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$13.46 and traded as high as C$14.23. Canaccord Genuity Group shares last traded at C$14.09, with a volume of 146,786 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CF. ATB Cormark Capital Markets lifted their price target on shares of Canaccord Genuity Group from C$18.25 to C$19.50 and gave the company an "outperform" rating in a report on Monday, August 10th. 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. Ventum Financial raised their target price on shares of 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. Finally, TD lifted their target price on 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$17.50.

Canaccord Genuity Group Price Performance

The company has a debt-to-equity ratio of 179.85, a current ratio of 8.03 and a quick ratio of 1.05. The company has a 50-day simple moving average of C$14.29 and a two-hundred day simple moving average of C$13.46. The stock has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -13.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.39.

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. The company had revenue of C$577.43 million during the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. On average, equities research analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, September 10th were given a $0.10 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.40 annualized dividend and a yield of 2.8%. Canaccord Genuity Group's dividend payout ratio (DPR) is currently -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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