Onex (TSE:ONEX) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of Onex Co. (TSE:ONEX) 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 Analyst Weigh In

ONEX has been the topic of a number of research analyst reports. 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 note on Monday, April 27th. TD decreased their price objective on shares of Onex from C$165.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Onex from C$130.00 to C$135.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$153.60.

Onex Stock Up 1.2%

The firm has a market cap of C$8.65 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.47 and a beta of 0.71. The business has a fifty day simple moving average of C$109.35 and a 200 day simple moving average of C$107.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 2.41.

Onex (TSE:ONEX) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$2.43 earnings per share (EPS) for the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%.The firm had revenue of C$287.00 million for the quarter. As a group, equities analysts forecast that Onex Co. will post 0.4443794 EPS 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.