CI Financial Corp. (TSE:CIX) Receives Consensus Recommendation of “Hold” from Analysts

CI Financial Corp. (TSE:CIX) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$19.50.

Several brokerages have issued reports on CIX. CIBC lifted their target price on shares of CI Financial from C$15.00 to C$17.50 and gave the stock a “neutral” rating in a report on Monday, January 29th. Raymond James set a C$19.00 price objective on shares of CI Financial and gave the company a “market perform” rating in a report on Thursday, February 22nd. Royal Bank of Canada increased their price objective on shares of CI Financial from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. BMO Capital Markets increased their price target on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Finally, Jefferies Financial Group lifted their price objective on CI Financial from C$19.00 to C$20.00 and gave the stock a “buy” rating in a report on Monday, February 26th.

Hedge Funds Weigh In On CI Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIX. Geode Capital Management LLC lifted its holdings in shares of CI Financial by 23.9% in the 1st quarter. Geode Capital Management LLC now owns 26,594 shares of the company’s stock valued at $481,000 after buying an additional 5,123 shares during the period. BNP Paribas Arbitrage SNC lifted its holdings in CI Financial by 28.7% in the first quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock valued at $117,000 after acquiring an additional 1,440 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in CI Financial by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company’s stock worth $505,000 after purchasing an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 10.11% of the company’s stock.

CI Financial Trading Up 1.1 %

CIX opened at C$16.33 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13. CI Financial has a 52 week low of C$12.01 and a 52 week high of C$18.69. The stock has a market cap of C$2.51 billion, a PE ratio of 46.66, a PEG ratio of 0.96 and a beta of 1.64. The business has a 50 day moving average of C$16.69 and a 200-day moving average of C$15.39.

CI Financial (TSE:CIX) last released its earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.08. The firm had revenue of C$715.60 million for the quarter, compared to the consensus estimate of C$656.72 million. CI Financial had a net margin of 0.16% and a return on equity of 0.29%. Equities research analysts predict that CI Financial will post 3.5093946 earnings per share for the current fiscal year.

About CI Financial

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.