Onex (TSE:ONEX) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Onex Co. (TSE:ONEX) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$109.35 and traded as high as C$115.93. Onex shares last traded at C$113.39, with a volume of 200,847 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD lowered their price target on Onex from C$165.00 to C$163.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Royal Bank Of Canada increased their price objective on Onex from C$130.00 to C$135.00 and gave the company a “sector perform” rating in a research note on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce set a C$135.00 price objective on Onex and gave the stock a “neutral” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$153.60.

Onex Stock Performance

The stock has a 50-day simple moving average of C$109.35 and a 200-day simple moving average of C$107.71. The stock has a market cap of C$8.65 billion, a PE ratio of 16.87, a P/E/G ratio of 1.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.82 and a quick ratio of 2.41.

Onex (TSE:ONEX) last issued its earnings results on Thursday, August 13th. The company reported C$2.43 earnings per share for the quarter. Onex had a return on equity of 5.25% and a net margin of 101.81%.The company had revenue of C$287.00 million during the quarter. 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.