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

Canaccord Genuity Group Inc. (TSE:CF)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.57 and traded as high as C$14.74. Canaccord Genuity Group shares last traded at C$14.71, with a volume of 171,843 shares traded.

Wall Street Analyst Weigh In

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

Canaccord Genuity Group Stock Up 2.3%

The stock has a 50 day moving average price of C$13.52 and a 200-day moving average price of C$12.57. The stock has a market capitalization of C$1.48 billion, a P/E ratio of -10.14, a PEG ratio of 0.54 and a beta of 1.34. The company has a debt-to-equity ratio of 104.59, a current ratio of 1.14 and a quick ratio of 1.05.

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

Canaccord Genuity Group Dividend Announcement

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

Insider Buying and Selling at Canaccord Genuity Group

In other news, Director Donald Duncan Macfayden sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$14.59, for a total value of C$291,800.00. Following the transaction, the director owned 141,705 shares in the company, valued at approximately C$2,067,475.95. This trade represents a 12.37% decrease in their ownership of the stock. Company insiders own 4.61% of the company’s stock.

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.