Onex (TSE:ONEX) Stock Price Up 2.3% – Here’s Why

Shares of Onex Co. (TSE:ONEX) rose 2.3% on Monday . The stock traded as high as C$109.60 and last traded at C$109.04. Approximately 75,681 shares changed hands during trading, a decline of 34% from the average daily volume of 113,853 shares. The stock had previously closed at C$106.64.

Wall Street Analysts Forecast Growth

ONEX has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce set a C$135.00 target price on shares of Onex and gave the company a “neutral” rating in a report on Monday, April 27th. Royal Bank Of Canada cut 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. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$150.00.

Onex Stock Up 2.3%

The stock has a market cap of C$8.32 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.47 and a beta of 0.73. The stock has a fifty day moving average of C$107.79 and a two-hundred day moving average of C$108.16.

Onex (TSE:ONEX) last posted its quarterly earnings results on Friday, May 15th. The company reported C$2.28 earnings per share (EPS) for the quarter. The firm had revenue of C$259.99 million during the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%. Equities research analysts anticipate 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.