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

Canaccord Genuity Group Inc. (TSE:CF) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

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

Canaccord Genuity Group Stock Down 0.6%

The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 104.59. The firm’s 50 day simple moving average is C$13.97 and its two-hundred day simple moving average is C$12.79. The firm has a market cap of C$1.50 billion, a price-to-earnings ratio of -10.28, a PEG ratio of 0.54 and a beta of 1.34.

Canaccord Genuity Group (TSE:CF) last announced its earnings results on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share (EPS) for the quarter. Canaccord Genuity Group had a negative net margin of 5.94% and a negative return on equity of 17.40%. The firm had revenue of C$612.69 million for the quarter. On average, equities analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Announces Dividend

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

Insider Transactions at Canaccord Genuity Group

In other Canaccord Genuity Group news, Director Donald Duncan Macfayden sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of C$14.59, for a total transaction of C$291,800.00. Following the transaction, the director owned 141,705 shares in the company, valued at C$2,067,475.95. This trade represents a 12.37% decrease in their position. 4.61% of the stock is owned by corporate 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.