Onex (TSE:ONEX) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Onex Co. (TSE:ONEX) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$108.79 and traded as high as C$118.32. Onex shares last traded at C$118.01, with a volume of 110,334 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD decreased their target price on Onex from C$165.00 to C$163.00 and set a “buy” rating on the stock in a research report on Friday. Canadian Imperial Bank of Commerce set a C$135.00 target price on shares of Onex and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Royal Bank Of Canada raised their price target on shares of Onex from C$130.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$153.60.

Onex Trading Down 2.1%

The business has a 50-day moving average of C$108.92 and a two-hundred day moving average of C$107.80. The firm has a market cap of C$8.80 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

Onex (TSE:ONEX) last posted its earnings results on Thursday, August 13th. The company reported C$2.43 EPS for the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%.The firm had revenue of C$287.00 million during the quarter. As a group, equities analysts expect that Onex Co. will post 0.4443794 EPS for the current year.

Onex Company Profile

Onex Corporation is a private equity investor and asset management firm. The company operates in two main segments: investing, which includes private equity, private credit, and direct investments; and asset and wealth management, which manages pension plans, sovereign wealth funds, insurance companies, and family offices. Investing revenue primarily comes from net gains on corporate investments and CLOs (collateralized loan investments). Asset and wealth management revenue comes primarily from management and performance fees.