Canaccord Genuity Group (TSE:CF) Stock Price Crosses Above 200 Day Moving Average of $7.73

Canaccord Genuity Group Inc. (TSE:CF)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.73 and traded as high as C$8.98. Canaccord Genuity Group shares last traded at C$8.70, with a volume of 61,228 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised shares of Canaccord Genuity Group from a “hold” rating to a “buy” rating and boosted their target price for the company from C$8.50 to C$10.00 in a research note on Friday, February 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$10.29.

Canaccord Genuity Group Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.24 and a debt-to-equity ratio of 41.38. The stock has a market capitalization of C$889.05 million, a price-to-earnings ratio of -29.00, a P/E/G ratio of 0.54 and a beta of 1.62. The company’s 50-day simple moving average is C$8.43 and its 200 day simple moving average is C$7.73.

Canaccord Genuity Group (TSE:CF) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported C$0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.13 by C$0.07. Canaccord Genuity Group had a negative net margin of 0.98% and a positive return on equity of 1.90%. The company had revenue of C$389.14 million during the quarter. Equities research analysts forecast that Canaccord Genuity Group Inc. will post 1.0193705 EPS for the current year.

Canaccord Genuity Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 15th were paid a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, February 29th. Canaccord Genuity Group’s payout ratio is presently -113.33%.

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.