Onex (TSE:ONEX) Shares Cross Below 50-Day Moving Average – Here’s Why

Onex Co. (TSE:ONEX) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$113.43 and traded as low as C$106.26. Onex shares last traded at C$106.66, with a volume of 140,905 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Scotiabank boosted their target price on Onex from C$153.00 to C$175.00 in a report on Friday, October 31st. TD Securities reduced their price objective on Onex from C$165.00 to C$160.00 in a research note on Monday, November 10th. Finally, Royal Bank Of Canada decreased their price objective on Onex from C$141.00 to C$139.00 and set a “sector perform” rating for the company in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$151.00.

Onex Stock Up 0.6%

The company has a market capitalization of C$7.32 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.47 and a beta of 1.07. The company has a debt-to-equity ratio of 49.85, a quick ratio of 2.41 and a current ratio of 17.51. The business has a 50-day simple moving average of C$113.43 and a two-hundred day simple moving average of C$115.35.

Onex (TSE:ONEX) last issued its quarterly earnings results on Friday, November 7th. The company reported C$1.38 earnings per share for the quarter. The firm had revenue of C$179.62 million during the quarter. Onex had a return on equity of 7.89% and a net margin of 68.42%. As a group, equities analysts predict that Onex Co. will post 0.4443794 EPS for the current year.

Onex Company Profile

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.