Canaccord Genuity Group (TSE:CF) Reaches New 1-Year High – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$15.24 and last traded at C$15.22, with a volume of 75851 shares changing hands. The stock had previously closed at C$14.84.

Analyst Ratings Changes

Separately, Ventum Financial raised 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 report on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Canaccord Genuity Group currently has an average rating of “Buy” and an average target price of C$16.25.

Canaccord Genuity Group Stock Up 2.4%

The company has a market cap of C$1.53 billion, a P/E ratio of -10.48, a PEG ratio of 0.54 and a beta of 1.34. The stock has a 50-day moving average of C$13.63 and a 200 day moving average of C$12.62. The company has a debt-to-equity ratio of 104.59, a current ratio of 1.14 and a quick ratio of 1.05.

Canaccord Genuity Group (TSE:CF) last posted its quarterly earnings data on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share for the quarter. The business had revenue of C$612.69 million during the quarter. Canaccord Genuity Group had a negative net margin of 5.94% and a negative return on equity of 17.40%. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.10 dividend. The ex-dividend date was Friday, June 19th. This represents a $0.40 annualized dividend and a dividend yield of 2.6%. Canaccord Genuity Group’s payout ratio is presently -23.45%.

Insider Buying and Selling at Canaccord Genuity Group

In related news, Director Donald Duncan Macfayden sold 20,000 shares of the 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 sale, the director owned 141,705 shares in the company, valued at approximately C$2,067,475.95. This trade represents a 12.37% decrease in their position. Company insiders own 4.61% of the company’s stock.

Canaccord Genuity Group Company Profile

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.