Onex (TSE:ONEX) Stock Price Up 2.3% – What’s Next?

Shares of Onex Co. (TSE:ONEX) rose 2.3% on Monday . The company traded as high as C$109.60 and last traded at C$109.04. 75,681 shares changed hands during trading, a decline of 34% from the average session volume of 113,853 shares. The stock had previously closed at C$106.64.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ONEX. 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 research report on Monday, April 27th. Royal Bank Of Canada dropped their target price on shares of Onex from C$136.00 to C$130.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$150.00.

Onex Trading Down 1.4%

The stock has a market capitalization of C$8.29 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.47 and a beta of 0.73. The firm has a 50-day moving average of C$107.91 and a 200-day moving average of C$108.12.

Onex (TSE:ONEX) last issued its quarterly earnings results on Friday, May 15th. The company reported C$2.28 EPS for the quarter. The company had revenue of C$259.99 million during the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%. On average, equities research analysts anticipate that Onex Co. 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.