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The latest update is out from ONEX Corporation ( (TSE:ONEX) ).
Onex Corporation has announced the renewal of its Normal Course Issuer Bid, allowing the company to repurchase up to 10% of its public float in Subordinate Voting Shares over the next year. This move is seen as beneficial for the company and its shareholders, as it allows Onex to buy back shares when they are trading at prices that offer an attractive risk-adjusted return, thereby potentially enhancing shareholder value.
Spark’s Take on TSE:ONEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:ONEX is a Neutral.
ONEX Corporation’s overall stock score reflects a stable financial foundation but highlights challenges in income and cash flow stability. Despite strong performance and fundraising successes in certain segments, bearish technical indicators and limited dividend yield constrain the potential upside. Optimism from earnings calls and successful corporate events provide some balance to the risks.
To see Spark’s full report on TSE:ONEX stock, click here.
More about ONEX Corporation
Onex Corporation, founded in 1984, is a global investment firm managing capital for shareholders and clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices, and high-net-worth individuals. With approximately $51.1 billion in assets under management, Onex operates from offices in Toronto, New York, New Jersey, and London, and is listed on the Toronto Stock Exchange under the symbol ONEX.
YTD Price Performance: -17.95%
Average Trading Volume: 146,833
Technical Sentiment Signal: Buy
Current Market Cap: C$6.48B
See more insights into ONEX stock on TipRanks’ Stock Analysis page.