Royal Bank Of Canada Cuts Onex (TSE:ONEX) Price Target to C$133.00

Onex (TSE:ONEX) had its price objective reduced by equities researchers at Royal Bank Of Canada from C$139.00 to C$133.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 28.81% from the company’s current price.

ONEX has been the topic of several other research reports. TD Securities decreased their price objective on Onex from C$165.00 to C$160.00 in a report on Monday, November 10th. Scotiabank raised their price target on Onex from C$153.00 to C$175.00 in a research note on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Onex has a consensus rating of “Moderate Buy” and a consensus price target of C$149.50.

Onex Price Performance

Shares of TSE ONEX traded down C$1.79 on Monday, hitting C$103.25. The company’s stock had a trading volume of 79,708 shares, compared to its average volume of 108,769. The stock has a 50 day moving average of C$112.13 and a 200-day moving average of C$114.93. The company has a market capitalization of C$7.08 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07. Onex has a 12-month low of C$86.64 and a 12-month high of C$131.38. The company has a debt-to-equity ratio of 49.85, a current ratio of 17.51 and a quick ratio of 2.41.

Onex (TSE:ONEX) last issued its quarterly earnings data on Friday, February 20th. The company reported C$3.49 earnings per share (EPS) for the quarter. The firm had revenue of C$307.97 million during the quarter. Onex had a return on equity of 7.89% and a net margin of 68.42%. As a group, research analysts predict that Onex will post 0.4443794 EPS for the current year.

About Onex

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.