Onex (TSE:ONEX) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Onex Co. (TSE:ONEX)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$109.35 and traded as high as C$115.93. Onex shares last traded at C$113.39, with a volume of 200,847 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD reduced their target price on Onex from C$165.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Canadian Imperial Bank of Commerce set a C$135.00 price objective on Onex and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of Onex from C$130.00 to C$135.00 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$153.60.

Onex Stock Up 1.2%

The stock has a 50 day moving average price of C$109.35 and a 200 day moving average price of C$107.71. The company has a current ratio of 1.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of C$8.65 billion, a P/E ratio of 16.87, a PEG ratio of 1.47 and a beta of 0.71.

Onex (TSE:ONEX) last posted its quarterly earnings data on Thursday, August 13th. The company reported C$2.43 EPS for the quarter. The company had revenue of C$287.00 million for the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%. On average, research analysts anticipate that Onex Co. will post 0.4443794 earnings per share for the current fiscal 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.