ONEX (OTCMKTS:ONEXF) Shares Pass Above 50-Day Moving Average – What’s Next?

ONEX Corporation (OTCMKTS:ONEXF)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $86.26 and traded as high as $87.1709. ONEX shares last traded at $87.1080, with a volume of 9,899 shares traded.

Analysts Set New Price Targets

ONEXF has been the subject of several research reports. Royal Bank Of Canada initiated coverage on ONEX in a research report on Wednesday, October 1st. They set a “hold” rating for the company. TD Securities restated a “buy” rating on shares of ONEX in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ONEX Trading Down 0.9%

The stock has a market capitalization of $5.98 billion, a PE ratio of 11.90 and a beta of 1.34. The company’s 50 day simple moving average is $86.26 and its 200 day simple moving average is $80.30.

ONEX (OTCMKTS:ONEXF) last released its earnings results on Thursday, August 7th. The company reported $3.30 EPS for the quarter. The firm had revenue of $325.00 million during the quarter. ONEX had a net margin of 61.92% and a return on equity of 6.12%.

ONEX Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 13th will be paid a $0.0727 dividend. This represents a yield of 32.0%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from ONEX’s previous dividend of $0.07. ONEX’s dividend payout ratio is presently 3.96%.

About ONEX

Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, large- middle market, large-cap, mid-cap, and small-cap market and distressed companies. It also invests in recapitalization, growth capital, corporate carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations, operational restructurings of undervalued businesses, and builds up.