Onex (TSE:ONEX) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Onex Co. (TSE:ONEX) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$111.03 and traded as low as C$101.97. Onex shares last traded at C$104.05, with a volume of 122,209 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Securities reduced their price target on Onex from C$165.00 to C$160.00 in a report on Monday, November 10th. Royal Bank Of Canada cut their target price on shares of Onex from C$139.00 to C$133.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$149.50.

Onex Price Performance

The business has a 50-day moving average of C$110.82 and a 200 day moving average of C$114.34. The company has a current ratio of 357.45, a quick ratio of 2.41 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of C$7.21 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.07.

Onex (TSE:ONEX) last released its quarterly earnings data on Friday, February 20th. The company reported C$3.49 EPS for the quarter. Onex had a return on equity of 7.20% and a net margin of 83.17%.The firm had revenue of C$307.97 million during the quarter. On average, sell-side analysts predict that Onex Co. will post 0.4443794 earnings per share for the current fiscal 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.