Onex (TSE:ONEX) Shares Pass Above 50-Day Moving Average – Time to Sell?

Onex Co. (TSE:ONEX) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$108.27 and traded as high as C$115.00. Onex shares last traded at C$113.51, with a volume of 111,136 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ONEX shares. Royal Bank Of Canada dropped their price target on shares of Onex from C$136.00 to C$130.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 19th. Canadian Imperial Bank of Commerce set a C$135.00 price target on shares of Onex and gave the company a “neutral” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$150.00.

Onex Price Performance

The stock’s 50 day simple moving average is C$108.27 and its two-hundred day simple moving average is C$107.84. The company has a market capitalization of C$8.66 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.47 and a beta of 0.71.

Onex (TSE:ONEX) last issued its earnings results on Friday, May 15th. The company reported C$2.28 earnings per share (EPS) for the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. The company had revenue of C$259.99 million for the quarter. As a group, equities research analysts expect that Onex Co. will post 0.4443794 earnings per share for the current year.

Onex Company Profile

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.