Canaccord Genuity Group (TSE:CF) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Canaccord Genuity Group Inc. (TSE:CF) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.17 and traded as high as C$14.43. Canaccord Genuity Group shares last traded at C$14.18, with a volume of 155,704 shares changing hands.

Analyst Ratings Changes

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

Canaccord Genuity Group Stock Down 1.7%

The firm’s fifty day moving average price is C$14.60 and its 200-day moving average price is C$13.18. The company has a market cap of C$1.45 billion, a price-to-earnings ratio of -13.37, a price-to-earnings-growth ratio of 0.54 and a beta of 1.35. The company has a current ratio of 8.03, a quick ratio of 1.05 and a debt-to-equity ratio of 179.85.

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

Canaccord Genuity Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 annualized dividend and a dividend yield of 2.8%. Canaccord Genuity Group’s dividend payout ratio (DPR) is currently -33.81%.

Insider Transactions at Canaccord Genuity Group

In other news, Director Donald Duncan Macfayden sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$14.59, for a total transaction of C$291,800.00. Following the completion of the transaction, the director directly owned 141,705 shares of the company’s stock, valued at C$2,067,475.95. This trade represents a 12.37% decrease in their position. Corporate insiders own 4.61% of the company’s stock.

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.