Royal Bank Of Canada Issues Pessimistic Forecast for Onex (TSE:ONEX) Stock Price

Onex (TSE:ONEX) had its price target decreased by research analysts at Royal Bank Of Canada from C$136.00 to C$130.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 24.57% from the company’s previous close.

Separately, Canadian Imperial Bank of Commerce set a C$135.00 price objective on Onex and gave the company a “neutral” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Onex presently has a consensus rating of “Moderate Buy” and an average price target of C$150.00.

Onex Stock Performance

ONEX stock traded down C$4.39 during mid-day trading on Tuesday, reaching C$104.36. The company had a trading volume of 103,780 shares, compared to its average volume of 114,559. The company has a market capitalization of C$7.96 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.47 and a beta of 0.72. The firm has a fifty day simple moving average of C$106.77 and a 200 day simple moving average of C$109.75. Onex has a fifty-two week low of C$95.15 and a fifty-two week high of C$131.38.

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 company had revenue of C$259.99 million for the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%. As a group, analysts predict that Onex will post 0.4443794 earnings per share for the current 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.