Royal Bank Of Canada Issues Pessimistic Forecast for Onex (TSE:ONEX) Stock Price

Onex (TSE:ONEX) had its price objective decreased by research analysts at Royal Bank Of Canada from C$136.00 to C$130.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 24.57% from the stock’s previous close.

Separately, Canadian Imperial Bank of Commerce set a C$135.00 price target on Onex and gave the stock 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 given a Hold rating to the company. According to MarketBeat, Onex presently has an average rating of “Moderate Buy” and a consensus price target of C$150.00.

Onex Price Performance

Onex stock traded down C$4.39 during trading hours on Tuesday, hitting C$104.36. The stock had a trading volume of 103,780 shares, compared to its average volume of 114,559. The stock has a market capitalization of C$7.96 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.47 and a beta of 0.72. Onex has a 1-year low of C$95.15 and a 1-year high of C$131.38. The stock’s fifty day moving average is C$106.77 and its two-hundred day moving average is C$109.75.

Onex (TSE:ONEX) last posted its earnings results on Friday, May 15th. The company reported C$2.28 earnings per share for the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%.The company had revenue of C$259.99 million for the quarter. As a group, sell-side analysts anticipate 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.