Canaccord Genuity Group (TSE:CF) Cut to Outperform at Raymond James Financial

Raymond James Financial lowered shares of Canaccord Genuity Group (TSE:CF) from a strong-buy rating to an outperform rating in a research note released on Monday morning,BayStreet.CA reports.

CF has been the subject of several other reports. Ventum Financial lifted their price objective on Canaccord Genuity Group from C$15.50 to C$16.50 and gave the stock a “buy” rating in a research report on Friday, June 5th. ATB Cormark Capital Markets raised their target price on Canaccord Genuity Group from C$18.25 to C$19.50 and gave the stock an “outperform” rating in a research note on Monday. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$17.50.

Canaccord Genuity Group Trading Up 2.5%

TSE:CF opened at C$14.79 on Monday. Canaccord Genuity Group has a 52 week low of C$9.78 and a 52 week high of C$15.55. The company has a debt-to-equity ratio of 179.85, a quick ratio of 1.05 and a current ratio of 8.03. The firm’s fifty day moving average is C$14.52 and its 200-day moving average is C$13.10. The firm has a market cap of C$1.52 billion, a P/E ratio of -14.09, a P/E/G ratio of 0.54 and a beta of 1.35.

Canaccord Genuity Group (TSE:CF) last released its earnings results on Thursday, August 6th. The financial services provider reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$577.43 million for the quarter. Canaccord Genuity Group had a negative net margin of 3.95% and a negative return on equity of 12.68%. Equities analysts expect that Canaccord Genuity Group will post 0.8618357 earnings per share for the current year.

Canaccord Genuity Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, June 19th. Canaccord Genuity Group’s dividend payout ratio is -33.81%.

Insider Buying and Selling

In related news, Director Donald Duncan Macfayden sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of C$14.59, for a total transaction of C$291,800.00. Following the transaction, the director directly owned 141,705 shares of the company’s stock, valued at approximately C$2,067,475.95. This represents a 12.37% decrease in their position. 4.61% of the stock is owned by insiders.

About Canaccord Genuity Group

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.