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

Key Points

• Canaccord Genuity Group shares crossed above their 200-day moving average of C$13.55, reaching C$14.62 before closing at C$14.52 on trading volume of 242,810 shares.
• Analyst sentiment remains positive: five analysts rate the stock a Buy, with a consensus price target of C$17.50. TD and ATB Cormark recently raised their targets to C$18.00 and C$19.50, respectively.
• 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 2.8% annualized yield.

Canaccord Genuity Group Inc. (TSE:CF - Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$13.55 and traded as high as C$14.62. Canaccord Genuity Group shares last traded at C$14.52, with a volume of 242,810 shares.

Wall Street Analyst Weigh In

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

Canaccord Genuity Group Trading Down 0.8%

The business's 50 day simple moving average is C$14.21 and its two-hundred day simple moving average is C$13.55. The stock has a market cap of C$1.48 billion, a P/E ratio of -13.83, a PEG ratio of 0.54 and a beta of 1.41. The company has a quick ratio of 1.05, a current ratio of 8.03 and a debt-to-equity ratio of 179.85.

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 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, analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, September 10th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, August 28th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.