Onex (TSE:ONEX) Stock Price Down 1.4% – Here’s Why

Onex Co. (TSE:ONEX)’s share price dropped 1.4% on Tuesday . The company traded as low as C$100.95 and last traded at C$101.65. Approximately 55,695 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 118,496 shares. The stock had previously closed at C$103.13.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada decreased their target price on shares of Onex from C$139.00 to C$133.00 and set a “sector perform” rating for the company in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Onex currently has a consensus rating of “Moderate Buy” and a consensus 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 company’s 50-day simple moving average is C$103.81 and its 200-day simple moving average is C$111.21. The stock has a market capitalization of C$6.98 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.47 and a beta of 0.65.

Onex (TSE:ONEX) last posted its quarterly earnings results on Friday, February 20th. The company reported C$3.49 earnings per share (EPS) for the quarter. Onex had a net margin of 83.17% and a return on equity of 7.20%. The firm had revenue of C$307.97 million for the quarter. As a group, sell-side analysts expect 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.