Canaccord Genuity Group (TSE:CF) Hits New 12-Month High – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$10.68 and last traded at C$10.58, with a volume of 236782 shares changing hands. The stock had previously closed at C$10.25.

Wall Street Analyst Weigh In

CF has been the topic of several analyst reports. Cormark upped their target price on shares of Canaccord Genuity Group from C$11.50 to C$12.50 in a report on Tuesday, November 12th. Raymond James raised their price objective on shares of Canaccord Genuity Group from C$11.00 to C$13.00 in a report on Monday, November 11th. TD Securities boosted their target price on Canaccord Genuity Group from C$10.00 to C$12.00 in a report on Tuesday, November 12th. Ventum Financial raised their price target on Canaccord Genuity Group from C$10.25 to C$12.00 in a report on Monday, November 11th. Finally, Ventum Cap Mkts raised Canaccord Genuity Group to a “strong-buy” rating in a research note on Monday, August 12th.

Canaccord Genuity Group Trading Up 1.1 %

The business has a 50 day moving average of C$9.66 and a 200 day moving average of C$8.99. The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -108.30, a PEG ratio of 0.54 and a beta of 1.61. The company has a debt-to-equity ratio of 52.93, a current ratio of 1.21 and a quick ratio of 1.05.

Canaccord Genuity Group (TSE:CF) last posted its earnings results on Thursday, November 7th. The financial services provider reported C$0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.22 by C($0.02). The company had revenue of C$428.64 million for the quarter, compared to analyst estimates of C$440.60 million. Canaccord Genuity Group had a return on equity of 3.45% and a net margin of 0.18%. As a group, research analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current fiscal year.

Canaccord Genuity Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 29th will be paid a $0.085 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.34 dividend on an annualized basis and a yield of 3.13%. Canaccord Genuity Group’s payout ratio is -340.00%.

About Canaccord Genuity Group

Canaccord Genuity Group Inc operates as a full-service investment dealer in Canada, the United States, the United Kingdom, Europe, Crown Dependencies, and Australia. It operates through two segments: Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, and trading services for corporate, institutional, and government clients.