Canaccord Genuity Group (TSE:CF) Sets New 1-Year High – Here’s Why

Canaccord Genuity Group Inc. (TSE:CF)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$15.12 and last traded at C$14.81, with a volume of 475708 shares traded. The stock had previously closed at C$14.91.

Wall Street Analysts Forecast Growth

CF has been the subject of a number of recent research reports. Ventum Financial upped their price objective on shares of Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a “buy” rating in a report on Friday, June 5th. TD Securities upped their price objective on shares of Canaccord Genuity Group from C$14.00 to C$16.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Canaccord Genuity Group currently has a consensus rating of “Buy” and a consensus price target of C$16.25.

Canaccord Genuity Group Stock Performance

The stock has a market cap of C$1.49 billion, a price-to-earnings ratio of -10.21, a price-to-earnings-growth ratio of 0.54 and a beta of 1.32. The company has a debt-to-equity ratio of 104.59, a quick ratio of 1.05 and a current ratio of 1.14. The stock’s 50-day simple moving average is C$12.75 and its two-hundred day simple moving average is C$12.20.

Canaccord Genuity Group (TSE:CF) last released its earnings results on Wednesday, June 3rd. The financial services provider reported C$0.48 earnings per share for the quarter. The firm had revenue of C$612.69 million during the quarter. Canaccord Genuity Group had a negative net margin of 5.94% and a negative return on equity of 17.40%. Analysts forecast that Canaccord Genuity Group Inc. will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 19th. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. Canaccord Genuity Group’s payout ratio is currently -23.45%.

Canaccord Genuity Group Company Profile

Canaccord Genuity Group Inc, a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, merger and acquisition, sales, and trading services. The Canaccord Genuity Wealth Management segment provides wealth management solutions, and brokerage and financial planning services to individual investors, private clients, charities, and intermediaries.