Onex (TSE:ONEX) Shares Up 2.3% – Here’s Why

Onex Co. (TSE:ONEX)’s share price was up 2.3% during trading on Monday . The company traded as high as C$109.60 and last traded at C$109.04. 75,681 shares changed hands during trading, a decline of 34% from the average session volume of 113,853 shares. The stock had previously closed at C$106.64.

Analyst Ratings Changes

A number of research analysts have issued reports on ONEX shares. Royal Bank Of Canada reduced their target price on shares of Onex from C$136.00 to C$130.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce set a C$135.00 price target on shares of Onex and gave the stock a “neutral” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Onex presently has an average rating of “Moderate Buy” and a consensus target price of C$150.00.

Onex Stock Performance

The company has a fifty day simple moving average of C$107.79 and a two-hundred day simple moving average of C$108.16. The company has a market capitalization of C$8.32 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.47 and a beta of 0.73.

Onex (TSE:ONEX) last posted its quarterly earnings data on Friday, May 15th. The company reported C$2.28 earnings per share (EPS) for the quarter. The business had revenue of C$259.99 million for the quarter. Onex had a return on equity of 6.52% and a net margin of 96.42%. As a group, analysts expect that Onex Co. will post 0.4443794 EPS for the current 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.