Canaccord Genuity Group (TSE:CF) Shares Cross Above 200 Day Moving Average – What’s Next?

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$13.41 and traded as high as C$13.43. Canaccord Genuity Group shares last traded at C$13.43, with a volume of 137,539 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CF. ATB Cormark Capital Markets raised their target price on shares of Canaccord Genuity Group from C$18.25 to C$19.50 and gave the company an “outperform” rating in a research note on Monday, August 10th. TD upped their target price on shares of Canaccord Genuity Group from C$16.00 to C$18.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Ventum Financial increased their price objective on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Raymond James Financial cut shares of Canaccord Genuity Group from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$17.50.

Canaccord Genuity Group Stock Up 0.8%

The stock has a market capitalization of C$1.35 billion, a P/E ratio of -12.79, a P/E/G ratio of 0.54 and a beta of 1.39. The company’s 50-day moving average price is C$14.40 and its 200 day moving average price is C$13.41. The company has a debt-to-equity ratio of 179.85, a quick ratio of 1.05 and a current ratio of 8.03.

Canaccord Genuity Group (TSE:CF) last issued its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share for the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. The company had revenue of C$577.43 million during the quarter. As a group, equities analysts expect that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, September 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 28th. Canaccord Genuity Group’s payout ratio is presently -33.81%.

Insider Buying and Selling at Canaccord Genuity Group

In related news, Director Donald Duncan Macfayden sold 29,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$14.82, for a total transaction of C$429,780.00. Following the completion of the sale, the director owned 161,705 shares in the company, valued at approximately C$2,396,468.10. This trade represents a 15.21% decrease in their ownership of the stock. 4.61% of the stock is currently owned by company insiders.

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.