Onex (TSE:ONEX) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Onex Co. (TSE:ONEX)’s share price 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.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce set a C$135.00 price objective on Onex and gave the company a “neutral” rating in a research note on Monday, April 27th. Royal Bank Of Canada lowered their target price on Onex from C$136.00 to C$130.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Onex presently has an average rating of “Moderate Buy” and an average price target of C$150.00.

Onex Stock Up 2.6%

The company’s fifty day moving average is C$108.79 and its two-hundred day moving average is C$107.75. The stock has a market cap of C$9.00 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.47 and a beta of 0.71.

Onex (TSE:ONEX) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$2.43 earnings per share (EPS) for the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. The company had revenue of C$287.00 million during the quarter. Sell-side analysts predict 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.