Onex (TSE:ONEX) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Onex Co. (TSE:ONEX) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$109.74 and traded as high as C$110.89. Onex shares last traded at C$110.32, with a volume of 38,431 shares trading hands.

Analysts Set New Price Targets

ONEX has been the subject of several research reports. Royal Bank Of Canada cut their price target on Onex from C$136.00 to C$130.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 19th. Canadian Imperial Bank of Commerce set a C$135.00 price objective on shares of Onex and gave the company a “neutral” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$150.00.

Onex Trading Up 1.2%

The company has a market capitalization of C$8.42 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.47 and a beta of 0.80. The company’s fifty day moving average is C$109.74 and its 200 day moving average is C$108.74.

Onex (TSE:ONEX) last issued its earnings results on Friday, May 15th. The company reported C$2.28 earnings per share (EPS) for the quarter. The business had revenue of C$259.99 million for the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. Equities research analysts predict that Onex Co. will post 0.4443794 EPS for the current year.

Onex Company Profile

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.