Onex (TSE:ONEX) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Onex Co. (TSE:ONEX) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$108.27 and traded as high as C$115.00. Onex shares last traded at C$113.51, with a volume of 111,136 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on ONEX shares. Canadian Imperial Bank of Commerce set a C$135.00 price objective on shares of Onex and gave the stock a “neutral” rating in a research report on Monday, April 27th. Royal Bank Of Canada decreased their price objective on 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$150.00.

Onex Price Performance

The firm has a market cap of C$8.66 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.47 and a beta of 0.71. The business’s 50-day moving average price is C$108.27 and its two-hundred day moving average price is C$107.84.

Onex (TSE:ONEX) last released its earnings results on Friday, May 15th. The company reported C$2.28 earnings per share for the quarter. The firm had revenue of C$259.99 million during the quarter. Onex had a net margin of 96.42% and a return on equity of 6.52%. Equities analysts predict that Onex Co. will post 0.4443794 earnings per share for the current fiscal 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.