Onex (TSE:ONEX) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Onex shares rose 3.9% and crossed above their 200-day moving average of C$108.10, reaching C$111.00 before closing at C$109.03 on trading volume of 313,085 shares.
• Analyst sentiment remains mixed: two analysts rate Onex a Buy and three rate it Hold, resulting in a consensus Hold rating and a C$147.00 average price target.
• Onex reported quarterly EPS of C$2.43 on revenue of C$287 million. The company operates across private equity, private credit, direct investments, and asset and wealth management.

Onex Co. (TSE:ONEX - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$108.10 and traded as high as C$111.00. Onex shares last traded at C$109.03, with a volume of 313,085 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets set a C$160.00 price target on shares of Onex and gave the company an "outperform" rating in a research note on Thursday, October 1st. RBC Dominion Securities reduced their price objective on shares of Onex from C$135.00 to C$129.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 15th. TD decreased their price objective on Onex from C$165.00 to C$163.00 and set a "buy" rating for the company in a report on Friday, August 14th. Finally, Royal Bank Of Canada raised their target price on Onex from C$130.00 to C$135.00 and gave the stock a "sector perform" rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Onex presently has a consensus rating of "Hold" and a consensus price target of C$147.00.

Onex Stock Up 3.9%

The stock has a 50-day moving average price of C$107.24 and a 200-day moving average price of C$108.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 2.41. The company has a market capitalization of C$8.32 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.47 and a beta of 0.84.

Onex (TSE:ONEX - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported C$2.43 EPS for the quarter. The business had revenue of C$287.00 million for the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%. On average, research analysts predict that Onex Co. will post 0.44 EPS for the current fiscal year.

About Onex

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices. Investing revenue primarily comes from net gains on corporate investments and CLOs (collateralized loan investments). Asset and wealth management revenue comes primarily from management and performance fees.

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