Onex (TSE:ONEX) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of Onex Co. (TSE:ONEX) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$111.03 and traded as low as C$101.97. Onex shares last traded at C$104.05, with a volume of 122,209 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on ONEX. TD Securities decreased their price target on Onex from C$165.00 to C$160.00 in a report on Monday, November 10th. Royal Bank Of Canada reduced their target price on shares of Onex from C$139.00 to C$133.00 and set a “sector perform” rating on the stock in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$149.50.

Onex Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 357.45 and a quick ratio of 2.41. The business’s 50-day moving average price is C$111.03 and its two-hundred day moving average price is C$114.46. The firm has a market cap of C$7.14 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.47 and a beta of 1.07.

Onex (TSE:ONEX) last posted its quarterly earnings data on Friday, February 20th. The company reported C$3.49 EPS for the quarter. The firm had revenue of C$307.97 million for the quarter. Onex had a net margin of 83.17% and a return on equity of 7.20%. On average, research analysts forecast that Onex Co. will post 0.4443794 EPS for the current fiscal 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.