Canaccord Genuity Group (TSE:CF) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Canaccord Genuity Group Inc. (TSE:CF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.35 and traded as high as C$9.61. Canaccord Genuity Group shares last traded at C$9.57, with a volume of 59,075 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CF shares. TD Securities increased their target price on shares of Canaccord Genuity Group from C$10.00 to C$12.00 in a research note on Tuesday, November 12th. Raymond James upped their target price on Canaccord Genuity Group from C$11.00 to C$13.00 in a report on Monday, November 11th. Cormark increased their price objective on Canaccord Genuity Group from C$11.50 to C$12.50 in a research report on Tuesday, November 12th. Finally, Ventum Financial increased their price objective on shares of Canaccord Genuity Group from C$10.25 to C$12.00 in a research report on Monday, November 11th.

Canaccord Genuity Group Stock Performance

The company has a market capitalization of C$925.13 million, a PE ratio of -95.70, a P/E/G ratio of 0.54 and a beta of 1.61. The stock’s 50-day simple moving average is C$10.36 and its 200 day simple moving average is C$9.35. The company has a debt-to-equity ratio of 52.93, a quick ratio of 1.05 and a current ratio of 1.21.

Canaccord Genuity Group (TSE:CF) last issued its quarterly earnings data on Thursday, November 7th. The financial services provider reported C$0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.02). Canaccord Genuity Group had a return on equity of 3.45% and a net margin of 0.18%. The firm had revenue of C$428.64 million for the quarter, compared to analysts’ expectations of C$440.60 million. As a group, research analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 29th were paid a dividend of $0.085 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.34 annualized dividend and a dividend yield of 3.55%. Canaccord Genuity Group’s dividend payout ratio (DPR) is -340.00%.

About Canaccord Genuity Group

Canaccord Genuity Group Inc operates as a full-service investment dealer in Canada, the United States, the United Kingdom, Europe, Crown Dependencies, and Australia. It operates through two segments: Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, and trading services for corporate, institutional, and government clients.