Canaccord Genuity Group (TSE:CF) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

Canaccord Genuity Group Inc. (TSE:CF) 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 traded.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CF. Ventum Financial upped their target price on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a “buy” rating in a 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. ATB Cormark Capital Markets boosted their price objective on Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, TD upped their price objective on shares of 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$17.50.

Canaccord Genuity Group Stock Performance

The firm’s 50-day simple moving average is C$14.27 and its two-hundred day simple moving average is C$13.47. The company has a current ratio of 8.03, a quick ratio of 1.05 and a debt-to-equity ratio of 179.85. The stock has a market capitalization of C$1.41 billion, a PE ratio of -13.33, a PEG ratio of 0.54 and a beta of 1.39.

Canaccord Genuity Group (TSE:CF) last released its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share (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. On average, equities research analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, September 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 28th. Canaccord Genuity Group’s dividend payout ratio is currently -33.81%.

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.