TD Issues Pessimistic Forecast for Onex (TSE:ONEX) Stock Price

Onex (TSE:ONEX) had its price target lowered by TD from C$165.00 to C$163.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD’s price target would indicate a potential upside of 41.49% from the company’s previous close.

A number of other research analysts have also commented on the company. Royal Bank Of Canada upped their target price on Onex from C$130.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday. Canadian Imperial Bank of Commerce set a C$135.00 price target on shares of Onex and gave the company a “neutral” rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$153.60.

Onex Trading Down 2.4%

ONEX stock traded down C$2.81 during trading on Friday, reaching C$115.20. 62,171 shares of the stock were exchanged, compared to its average volume of 112,842. Onex has a twelve month low of C$95.15 and a twelve month high of C$131.38. The company has a market capitalization of C$8.79 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. The stock has a 50 day simple moving average of C$108.79 and a 200-day simple moving average of C$107.75.

Onex (TSE:ONEX) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$2.43 EPS for the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%.The firm had revenue of C$287.00 million during the quarter. Equities 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.