Canaccord Genuity Group (TSE:CF) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$12.92 and traded as high as C$14.42. Canaccord Genuity Group shares last traded at C$14.14, with a volume of 110,231 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Ventum Financial boosted their target price on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a “buy” rating in a research report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$16.25.

Canaccord Genuity Group Price Performance

The company’s 50-day simple moving average is C$14.26 and its 200 day simple moving average is C$12.92. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 104.59. The stock has a market capitalization of C$1.42 billion, a price-to-earnings ratio of -9.75, a P/E/G ratio of 0.54 and a beta of 1.34.

Canaccord Genuity Group (TSE:CF) last announced its quarterly earnings results on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share for the quarter. The company had revenue of C$612.69 million during the quarter. Canaccord Genuity Group had a negative return on equity of 17.40% and a negative net margin of 5.94%. Equities research analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 19th. Canaccord Genuity Group’s dividend payout ratio (DPR) is presently -23.45%.

Insider Buying and Selling at Canaccord Genuity Group

In related news, Director Donald Duncan Macfayden sold 29,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of C$14.82, for a total value of C$429,780.00. Following the completion of the sale, the director directly owned 161,705 shares in the company, valued at approximately C$2,396,468.10. The trade was a 15.21% decrease in their position. 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.