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

Canaccord Genuity Group Inc. (TSE:CF)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$12.79 and traded as high as C$15.11. Canaccord Genuity Group shares last traded at C$14.91, with a volume of 110,556 shares.

Analyst Ratings Changes

Separately, Ventum Financial boosted their price target on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a “buy” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$16.25.

Canaccord Genuity Group Price Performance

The company has a fifty day simple moving average of C$14.02 and a 200-day simple moving average of C$12.81. The company has a market cap of C$1.48 billion, a P/E ratio of -10.12, a PEG ratio of 0.54 and a beta of 1.34. The company has a debt-to-equity ratio of 104.59, a current ratio of 1.14 and a quick ratio of 1.05.

Canaccord Genuity Group (TSE:CF) last released its quarterly earnings data on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share for the quarter. The business had revenue of C$612.69 million during the quarter. Canaccord Genuity Group had a negative return on equity of 17.40% and a negative net margin of 5.94%. On average, sell-side analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, June 19th. Canaccord Genuity Group’s dividend payout ratio is currently -23.45%.

Insider Buying and Selling at Canaccord Genuity Group

In related news, Director Donald Duncan Macfayden sold 29,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$14.82, for a total value of C$429,780.00. Following the completion of the transaction, the director owned 161,705 shares in the company, valued at C$2,396,468.10. This trade represents a 15.21% decrease in their position. 4.61% of the stock is owned by company insiders.

Canaccord Genuity Group Company Profile

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.