CI Financial (TSE:CIX) Given New C$21.00 Price Target at Scotiabank

CI Financial (TSE:CIX) had its price target increased by Scotiabank from C$20.00 to C$21.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other brokerages have also recently weighed in on CIX. Jefferies Financial Group upped their price target on CI Financial from C$19.00 to C$20.00 and gave the company a buy rating in a research report on Monday, February 26th. Royal Bank of Canada raised their price target on shares of CI Financial from C$19.00 to C$20.00 and gave the company a sector perform rating in a report on Monday. CIBC boosted their price target on shares of CI Financial from C$15.00 to C$17.50 and gave the company a neutral rating in a research report on Monday, January 29th. TD Securities upgraded CI Financial from a buy rating to an action list buy rating and increased their price objective for the stock from C$21.00 to C$23.00 in a research report on Monday, February 26th. Finally, Raymond James set a C$19.00 target price on CI Financial and gave the stock a market perform rating in a research report on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of C$19.72.

CI Financial Trading Down 1.1 %

Shares of CIX stock opened at C$16.26 on Tuesday. The stock has a market capitalization of C$2.50 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 0.96 and a beta of 1.64. The company’s fifty day simple moving average is C$16.76 and its two-hundred day simple moving average is C$15.45. CI Financial has a 1 year low of C$12.01 and a 1 year high of C$18.69. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last announced its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, beating the consensus estimate of C$0.73 by C$0.08. The company had revenue of C$715.60 million during the quarter, compared to analysts’ expectations of C$656.72 million. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. As a group, analysts anticipate that CI Financial will post 3.5093946 earnings per share for the current year.

CI Financial Company Profile

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.