ONEX (OTCMKTS:ONEXF) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Shares of ONEX Corporation (OTCMKTS:ONEXF) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $85.95 and traded as low as $82.65. ONEX shares last traded at $83.33, with a volume of 20,605 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Securities restated a “buy” rating on shares of ONEX in a report on Friday, August 8th. Royal Bank Of Canada assumed coverage on ONEX in a report on Wednesday, October 1st. They set a “hold” rating on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

ONEX Stock Down 1.2%

The firm has a fifty day moving average of $85.95 and a 200-day moving average of $79.43. The firm has a market cap of $5.72 billion, a P/E ratio of 11.38 and a beta of 1.34.

ONEX (OTCMKTS:ONEXF) last posted its quarterly earnings results on Thursday, August 7th. The company reported $3.30 earnings per share (EPS) for the quarter. The business had revenue of $325.00 million for the quarter. ONEX had a return on equity of 6.12% and a net margin of 61.92%.

ONEX Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 13th will be paid a $0.0727 dividend. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from ONEX’s previous dividend of $0.07. This represents a yield of 32.0%. ONEX’s payout ratio is currently 3.96%.

ONEX Company Profile

Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions. The firm makes investments in buyouts, large- middle market, large-cap, mid-cap, and small-cap market and distressed companies. It also invests in recapitalization, growth capital, corporate carve-outs of subsidiaries and mission-critical supply divisions from multinational corporations, operational restructurings of undervalued businesses, and builds up.