CI Financial Corp. (TSE:CIX) Receives C$19.56 Consensus Target Price from Brokerages

Shares of CI Financial Corp. (TSE:CIXGet Free Report) have received an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$19.56.

A number of research firms have issued reports on CIX. Raymond James raised CI Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$20.00 to C$21.00 in a research report on Monday, May 13th. BMO Capital Markets decreased their target price on CI Financial from C$19.00 to C$17.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. TD Securities upgraded shares of CI Financial from a “buy” rating to an “action list buy” rating and increased their price target for the company from C$21.00 to C$23.00 in a research note on Monday, February 26th. Keefe, Bruyette & Woods reduced their price objective on shares of CI Financial from C$22.00 to C$21.00 and set a “sector perform” rating for the company in a research report on Monday, May 13th. Finally, Scotiabank increased their target price on shares of CI Financial from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th.

Read Our Latest Stock Analysis on CIX

Insider Activity at CI Financial

In other CI Financial news, Senior Officer Amit Muni sold 7,424 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of C$14.54, for a total value of C$107,981.34. Company insiders own 14.02% of the company’s stock.

CI Financial Stock Performance

Shares of CI Financial stock opened at C$14.20 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 160.56. The firm has a market cap of C$2.15 billion, a PE ratio of -12.57, a price-to-earnings-growth ratio of 0.70 and a beta of 1.63. The business’s fifty day simple moving average is C$15.58 and its 200-day simple moving average is C$15.75. CI Financial has a 52 week low of C$12.51 and a 52 week high of C$17.73.

CI Financial (TSE:CIXGet Free Report) last released its quarterly earnings results on Friday, May 10th. The company reported C$0.86 EPS for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.01). CI Financial had a negative return on equity of 8.77% and a negative net margin of 5.55%. The firm had revenue of C$645.68 million for the quarter, compared to analyst estimates of C$690.26 million. Equities analysts forecast that CI Financial will post 3.5167464 earnings per share for the current year.

CI Financial Company Profile

(Get Free Report

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.

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Analyst Recommendations for CI Financial (TSE:CIX)

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