CI Financial (CIX) PT Raised to C$20.00

CI Financial (TSE:CIX) had its price target hoisted by Royal Bank of Canada from C$19.00 to C$20.00 in a research report sent to investors on Friday morning. The brokerage currently has an underperform rating on the stock.

Several other equities analysts have also commented on CIX. Canaccord Genuity lowered their target price on CI Financial from C$30.00 to C$27.00 in a report on Tuesday, July 31st. TD Securities lowered their target price on CI Financial from C$25.00 to C$24.00 in a report on Friday, August 10th. BMO Capital Markets lowered their target price on CI Financial from C$29.00 to C$26.00 in a report on Friday, August 10th. Desjardins lowered their target price on CI Financial from C$25.00 to C$24.00 in a report on Friday, August 10th. Finally, Barclays lowered CI Financial from an overweight rating to an equal weight rating and lowered their target price for the company from C$29.00 to C$24.00 in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of C$23.13.

Shares of TSE:CIX traded up C$0.43 during trading on Friday, hitting C$20.12. 1,304,000 shares of the company traded hands, compared to its average volume of 687,433. CI Financial has a one year low of C$18.38 and a one year high of C$30.23. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 82.07.

CI Financial (TSE:CIX) last posted its earnings results on Thursday, August 9th. The company reported C$0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.60 by C$0.01. The company had revenue of C$564.60 million for the quarter. As a group, sell-side analysts anticipate that CI Financial will post 2.40000019502287 earnings per share for the current fiscal year.

In other CI Financial news, Director William Thomas Holland acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The stock was acquired at an average cost of C$19.60 per share, with a total value of C$1,960,000.00. Also, Director Roy Ratnavel acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was acquired at an average cost of C$21.55 per share, with a total value of C$215,500.00. Insiders purchased a total of 218,300 shares of company stock valued at $4,383,822 over the last three months.

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.

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Analyst Recommendations for CI Financial (TSE:CIX)

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