Canaccord Genuity Group (TSE:CF) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.44 and traded as high as C$14.87. Canaccord Genuity Group shares last traded at C$14.48, with a volume of 295,079 shares traded.

Wall Street Analysts Forecast Growth

Separately, Ventum Financial boosted their price target 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 MarketBeat.com, Canaccord Genuity Group presently has an average rating of “Buy” and a consensus target price of C$16.25.

Canaccord Genuity Group Stock Down 0.4%

The stock has a market capitalization of C$1.45 billion, a P/E ratio of -9.94, a P/E/G ratio of 0.54 and a beta of 1.32. 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 stock’s 50 day simple moving average is C$13.26 and its 200 day simple moving average is C$12.46.

Canaccord Genuity Group (TSE:CF) last issued 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 business had revenue of C$612.69 million for the quarter. As a group, research analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current fiscal year.

Canaccord Genuity Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, June 19th. Canaccord Genuity Group’s payout ratio is -23.45%.

Insider Activity

In related 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 directly owned 141,705 shares in the company, valued at C$2,067,475.95. This trade represents a 12.37% decrease in their ownership of the stock. Corporate insiders own 4.61% of the company’s stock.

About Canaccord Genuity Group

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.