TD Securities Downgrades Canaccord Genuity Group (TSE:CF) to Hold

TD Securities cut shares of Canaccord Genuity Group (TSE:CF) from a strong-buy rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Ventum Financial boosted their target price on Canaccord Genuity Group from C$10.25 to C$12.00 in a research report on Monday, November 11th. Raymond James increased their price objective on shares of Canaccord Genuity Group from C$11.00 to C$13.00 in a research report on Monday, November 11th. Finally, Cormark lifted their target price on shares of Canaccord Genuity Group from C$11.50 to C$12.50 in a research report on Tuesday, November 12th.

Canaccord Genuity Group Stock Down 5.1 %

Shares of Canaccord Genuity Group stock opened at C$8.54 on Thursday. The company has a 50-day simple moving average of C$9.96 and a two-hundred day simple moving average of C$9.46. Canaccord Genuity Group has a 52-week low of C$7.24 and a 52-week high of C$11.50. The company has a debt-to-equity ratio of 52.93, a quick ratio of 1.05 and a current ratio of 1.21. The stock has a market capitalization of C$825.56 million, a PE ratio of -85.40, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

Canaccord Genuity Group (TSE:CF) last issued its earnings results on Thursday, November 7th. The financial services provider reported C$0.20 EPS for the quarter, missing the consensus estimate of C$0.22 by C($0.02). Canaccord Genuity Group had a net margin of 0.18% and a return on equity of 3.45%. The business had revenue of C$428.64 million for the quarter, compared to analysts’ expectations of C$440.60 million. On average, analysts anticipate that Canaccord Genuity Group will post 0.8618357 EPS for the current fiscal year.

About Canaccord Genuity Group

Canaccord Genuity Group Inc operates as a full-service investment dealer in Canada, the United States, the United Kingdom, Europe, Crown Dependencies, and Australia. It operates through two segments: Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, and trading services for corporate, institutional, and government clients.