Canaccord Genuity Group (TSE:CF) Reaches New 52-Week High – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$10.50 and last traded at C$10.42, with a volume of 10793 shares trading hands. The stock had previously closed at C$10.30.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CF. Ventum Cap Mkts upgraded shares of Canaccord Genuity Group to a “strong-buy” rating in a research report on Monday, August 12th. Ventum Financial boosted their price objective on shares of Canaccord Genuity Group from C$10.25 to C$12.00 in a report on Monday, November 11th. Raymond James upped their target price on shares of Canaccord Genuity Group from C$11.00 to C$13.00 in a research note on Monday, November 11th. Cormark upped their target price on shares of Canaccord Genuity Group from C$11.50 to C$12.50 in a research note on Tuesday, November 12th. Finally, TD Securities upped their target price on shares of Canaccord Genuity Group from C$10.00 to C$12.00 in a research note on Tuesday, November 12th.

Canaccord Genuity Group Trading Up 1.7 %

The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 52.93. The firm has a market cap of C$1.01 billion, a PE ratio of -103.90, a P/E/G ratio of 0.54 and a beta of 1.61. The company’s 50-day moving average is C$9.37 and its 200 day moving average is C$8.90.

Canaccord Genuity Group (TSE:CF) last issued its quarterly earnings results on Thursday, November 7th. The financial services provider reported C$0.20 EPS for the quarter, missing the consensus estimate of C$0.22 by C($0.02). The firm had revenue of C$428.64 million during the quarter, compared to analysts’ expectations of C$440.60 million. Canaccord Genuity Group had a net margin of 0.18% and a return on equity of 3.45%. As a group, sell-side analysts predict that Canaccord Genuity Group Inc. will post 0.8618357 EPS for the current year.

Canaccord Genuity Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 29th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.34 dividend on an annualized basis and a yield of 3.25%. Canaccord Genuity Group’s payout ratio is presently -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.