Cormark Brokers Cut Earnings Estimates for Canaccord Genuity Group Inc. (TSE:CF)

Canaccord Genuity Group Inc. (TSE:CF – Get Rating) – Stock analysts at Cormark cut their FY2023 earnings per share estimates for Canaccord Genuity Group in a research report issued to clients and investors on Tuesday, May 9th. Cormark analyst J. Fenwick now anticipates that the financial services provider will post earnings per share of $0.73 for the year, down from their previous estimate of $0.81. Cormark currently has a “Market Perform” rating and a $10.00 price target on the stock. The consensus estimate for Canaccord Genuity Group’s current full-year earnings is $1.15 per share. Cormark also issued estimates for Canaccord Genuity Group’s Q4 2023 earnings at $0.20 EPS, Q3 2024 earnings at $0.30 EPS and Q4 2024 earnings at $0.30 EPS.

Separately, TD Securities raised their price target on Canaccord Genuity Group from C$11.00 to C$11.50 and gave the company a “hold” rating in a report on Friday, February 10th.

Canaccord Genuity Group Stock Performance

TSE CF opened at C$9.32 on Thursday. The stock has a market capitalization of C$926.22 million, a PE ratio of -17.26, a P/E/G ratio of 0.54 and a beta of 1.62. The business has a 50 day simple moving average of C$10.65 and a two-hundred day simple moving average of C$9.75. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.17 and a quick ratio of 1.05. Canaccord Genuity Group has a 1-year low of C$6.24 and a 1-year high of C$11.80.

Canaccord Genuity Group (TSE:CF – Get Rating) last released its earnings results on Wednesday, February 8th. The financial services provider reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.23 by C($0.07). The business had revenue of C$382.12 million for the quarter, compared to analysts’ expectations of C$391.30 million. Canaccord Genuity Group had a positive return on equity of 0.78% and a negative net margin of 1.73%.

Canaccord Genuity Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, March 10th were issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, February 23rd. Canaccord Genuity Group’s dividend payout ratio (DPR) is -62.96%.

About Canaccord Genuity Group

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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.