CI Financial Corp. (TSE:CIX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CI Financial Corp. (TSE:CIX) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$19.38.

A number of brokerages have recently weighed in on CIX. Jefferies Financial Group raised their price objective on shares of CI Financial from C$19.00 to C$20.00 in a research note on Monday, July 29th. TD Securities lowered their price objective on CI Financial from C$21.00 to C$20.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th.

CI Financial Trading Up 3.1 %

Shares of CIX stock opened at C$18.20 on Friday. The stock has a market cap of C$2.66 billion, a P/E ratio of -67.41, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. CI Financial has a fifty-two week low of C$12.51 and a fifty-two week high of C$18.23. The business has a fifty day simple moving average of C$16.64 and a 200-day simple moving average of C$16.06.

CI Financial (TSE:CIX) last posted its earnings results on Thursday, August 8th. The company reported C$0.90 earnings per share for the quarter. The firm had revenue of C$985.96 million during the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. On average, analysts forecast that CI Financial will post 4.0092166 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.