Canaccord Genuity Group (TSE:CF) Shares Down 10%

Canaccord Genuity Group Inc. (TSE:CF) shares dropped 10% during mid-day trading on Thursday . The stock traded as low as C$6.59 and last traded at C$6.69. Approximately 75,319 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 288,131 shares. The stock had previously closed at C$7.43.

Analyst Upgrades and Downgrades

Separately, Raymond James upgraded Canaccord Genuity Group from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from C$9.50 to C$11.00 in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$10.29.

Canaccord Genuity Group Stock Down 10.5 %

The firm’s fifty day simple moving average is C$7.69 and its two-hundred day simple moving average is C$8.36. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 36.44. The company has a market capitalization of C$662.61 million, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of 0.54 and a beta of 1.65.

Canaccord Genuity Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Thursday, November 30th. Canaccord Genuity Group’s dividend payout ratio is presently -29.06%.

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.