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

Key Points

• Canaccord Genuity Group shares moved above their 200-day moving average, reaching C$13.43 compared with the C$13.41 average, on trading volume of 137,539 shares.
• Analysts remain broadly positive, with five Buy ratings and an average price target of C$17.50. Several firms recently raised their targets, including ATB Cormark to C$19.50 and TD to C$18.00.
• 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, representing a 3.0% annualized yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.41 and traded as high as C$13.43. Canaccord Genuity Group shares last traded at C$13.43, with a volume of 137,539 shares changing hands.

Analysts Set New Price Targets

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

Canaccord Genuity Group Trading Up 0.8%

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 business's 50 day moving average price is C$14.40 and its 200-day moving average price is C$13.41. The firm has a market capitalization of C$1.35 billion, a price-to-earnings ratio of -12.79, 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 data on Thursday, August 6th. The financial services provider reported C$0.36 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 firm had revenue of C$577.43 million during the quarter. Equities analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current fiscal year.

Canaccord Genuity Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, September 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 28th. Canaccord Genuity Group's dividend payout ratio (DPR) is currently -33.81%.

Insider Activity at Canaccord Genuity Group

In related news, Director Donald Duncan Macfayden sold 20,000 shares of Canaccord Genuity Group stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of C$14.59, for a total value of C$291,800.00. Following the sale, the director directly owned 141,705 shares in the company, valued at C$2,067,475.95. The trade was a 12.37% decrease in their ownership of the stock. 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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