CI Financial Corp. (TSE:CIX) Receives C$19.50 Consensus Target Price from Analysts

Shares of CI Financial Corp. (TSE:CIX) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$19.50.

Several research firms have commented on CIX. TD Securities raised shares of CI Financial from a “buy” rating to an “action list buy” rating and increased their price objective for the company from C$21.00 to C$23.00 in a report on Monday, February 26th. Keefe, Bruyette & Woods lowered their price target on shares of CI Financial from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, December 15th. Jefferies Financial Group increased their price target on shares of CI Financial from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Monday, February 26th. Royal Bank of Canada raised their price objective on shares of CI Financial from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Finally, Raymond James set a C$19.00 price objective on shares of CI Financial and gave the stock a “market perform” rating in a research note on Thursday, February 22nd.

Hedge Funds Weigh In On CI Financial

Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SNC raised its stake in CI Financial by 28.7% in the first quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock worth $117,000 after buying an additional 1,440 shares in the last quarter. Geode Capital Management LLC grew its holdings in CI Financial by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 21,471 shares of the company’s stock worth $396,000 after purchasing an additional 748 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in CI Financial by 3.2% in the third 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 during the last quarter. Institutional investors own 10.06% of the company’s stock.

CI Financial Trading Up 0.1 %

Shares of CI Financial stock opened at C$17.32 on Friday. The company has a market capitalization of C$2.66 billion, a P/E ratio of 49.49, a P/E/G ratio of 0.96 and a beta of 1.64. The company has a debt-to-equity ratio of 366.41, a quick ratio of 0.17 and a current ratio of 0.33. The company has a fifty day moving average of C$16.53 and a 200 day moving average of C$15.38. CI Financial has a fifty-two week low of C$12.01 and a fifty-two week high of C$18.69.

CI Financial (TSE:CIX) last issued its earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, topping the consensus estimate of C$0.73 by C$0.08. CI Financial had a net margin of 0.16% and a return on equity of 0.46%. The company had revenue of C$715.60 million during the quarter, compared to the consensus estimate of C$656.72 million. On average, sell-side analysts anticipate that CI Financial will post 3.5732218 earnings per share for the current fiscal 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.