Raymond James Weighs in on Canaccord Genuity Group Inc.’s Q3 2024 Earnings (TSE:CF)

Canaccord Genuity Group Inc. (TSE:CF) – Analysts at Raymond James cut their Q3 2024 earnings per share estimates for Canaccord Genuity Group in a research note issued on Wednesday, November 15th. Raymond James analyst S. Boland now forecasts that the financial services provider will post earnings of $0.10 per share for the quarter, down from their prior estimate of $0.14. Raymond James has a “Strong-Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Canaccord Genuity Group’s current full-year earnings is $0.52 per share. Raymond James also issued estimates for Canaccord Genuity Group’s FY2024 earnings at $0.39 EPS.

Separately, TD Securities lowered shares of Canaccord Genuity Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$10.00 to C$8.50 in a research note on Thursday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$9.91.

Canaccord Genuity Group Stock Down 6.1 %

Shares of Canaccord Genuity Group stock opened at C$6.98 on Friday. The company has a fifty day moving average price of C$7.67 and a 200 day moving average price of C$8.35. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 36.44. Canaccord Genuity Group has a twelve month low of C$6.50 and a twelve month high of C$11.80. The stock has a market cap of C$695.49 million, a price-to-earnings ratio of -5.97, 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 given a $0.085 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 4.87%. Canaccord Genuity Group’s payout ratio is currently -29.06%.

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.