Canaccord Genuity Group (TSE:CF) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Canaccord Genuity Group Inc. (TSE:CF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$13.34 and traded as high as C$14.20. Canaccord Genuity Group shares last traded at C$14.10, with a volume of 214,037 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on CF. ATB Cormark Capital Markets raised their price objective on shares of Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Ventum Financial increased their price objective on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a “buy” rating in a report on Friday, June 5th. TD lifted their price target 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. Finally, Raymond James Financial downgraded shares of Canaccord Genuity Group from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$17.50.

Canaccord Genuity Group Stock Performance

The business has a 50-day moving average of C$14.56 and a 200 day moving average of C$13.36. The company has a debt-to-equity ratio of 179.85, a current ratio of 8.03 and a quick ratio of 1.05. The company has a market cap of C$1.46 billion, a PE ratio of -13.65, a PEG ratio of 0.54 and a beta of 1.35.

Canaccord Genuity Group (TSE:CF) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share for the quarter. The business had revenue of C$577.43 million for the quarter. Canaccord Genuity Group had a negative return on equity of 12.68% and a negative net margin of 3.95%. Equities research analysts anticipate that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, September 10th will be given a $0.10 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.40 annualized dividend and a yield of 2.8%. Canaccord Genuity Group’s dividend payout ratio is -33.81%.

Insider Activity

In other news, Director Donald Duncan Macfayden sold 20,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of C$14.59, for a total value of C$291,800.00. Following the completion of the transaction, the director owned 141,705 shares in the company, valued at approximately C$2,067,475.95. This represents a 12.37% decrease in their position. Corporate insiders own 4.61% of the company’s stock.

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.