Onex (TSE:ONEX) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Onex Co. (TSE:ONEX) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$108.27 and traded as high as C$115.00. Onex shares last traded at C$113.51, with a volume of 111,136 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ONEX shares. Royal Bank Of Canada decreased their price objective on Onex from C$136.00 to C$130.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce set a C$135.00 target price on Onex and gave the stock a “neutral” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$150.00.

Onex Price Performance

The company has a market cap of C$8.54 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. The company’s 50 day simple moving average is C$108.39 and its two-hundred day simple moving average is C$107.83.

Onex (TSE:ONEX) last released its quarterly earnings results on Friday, May 15th. The company reported C$2.28 earnings per share (EPS) for the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. The business had revenue of C$259.99 million for the quarter. Sell-side analysts expect that Onex Co. will post 0.4443794 EPS for the current fiscal 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.