CI Financial (TSE:CIX) Reaches New 52-Week High – Time to Buy?

CI Financial Corp. (TSE:CIX)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$23.46 and last traded at C$23.46, with a volume of 304 shares traded. The stock had previously closed at C$23.12.

Wall Street Analyst Weigh In

Several research firms have weighed in on CIX. Jefferies Financial Group increased their price target on shares of CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Securities reduced their target price on CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$20.25.

CI Financial Stock Performance

The business’s 50 day simple moving average is C$19.33 and its two-hundred day simple moving average is C$16.84. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The firm has a market capitalization of C$3.37 billion, a PE ratio of -85.63, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67.

CI Financial (TSE:CIX) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.90 earnings per share (EPS) for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. The business had revenue of C$985.96 million during the quarter. Research analysts expect that CI Financial Corp. will post 4.010142 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.