Canaccord Genuity Group (TSE:CF) Shares Break Above 200 Day Moving Average – What’s Next?

Canaccord Genuity Group Inc. (TSE:CF) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$13.55 and traded as high as C$14.62. Canaccord Genuity Group shares last traded at C$14.52, with a volume of 242,810 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CF shares. TD increased their target price on shares of Canaccord Genuity Group from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Raymond James Financial cut shares of Canaccord Genuity Group from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, August 10th. Finally, 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 report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Canaccord Genuity Group presently has an average rating of “Buy” and an average target price of C$17.50.

Canaccord Genuity Group Stock Performance

The company’s fifty day simple moving average is C$14.21 and its 200 day simple moving average is C$13.57. The stock has a market capitalization of C$1.39 billion, a P/E ratio of -12.94, a P/E/G ratio of 0.54 and a beta of 1.41. The company has a current ratio of 8.03, a quick ratio of 1.05 and a debt-to-equity ratio of 179.85.

Canaccord Genuity Group (TSE:CF) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share for the quarter. The firm had revenue of C$577.43 million for the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. As a group, sell-side analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, September 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.9%. Canaccord Genuity Group’s dividend payout ratio (DPR) is presently -33.81%.

About Canaccord Genuity Group

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.