Brokerages Set CI Financial Corp. (TSE:CIX) Target Price at C$19.50

CI Financial Corp. (TSE:CIX) has been given an average rating of “Hold” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$19.50.

A number of equities research analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on CI Financial from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. CIBC upped their price objective on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a research note on Monday, January 29th. Raymond James set a C$19.00 price objective on shares of CI Financial and gave the company a “market perform” rating in a report on Thursday, February 22nd. Royal Bank of Canada upped their price target on shares of CI Financial from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. Finally, Scotiabank lifted their price target on shares of CI Financial from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th.

CI Financial Trading Down 0.4 %

CIX opened at C$16.48 on Thursday. The company has a market cap of C$2.53 billion, a P/E ratio of 47.09, a PEG ratio of 0.96 and a beta of 1.64. The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 151.13. The company’s 50 day moving average is C$16.72 and its 200-day moving average is C$15.42. CI Financial has a 1-year low of C$12.01 and a 1-year 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, beating analysts’ consensus estimates of C$0.73 by C$0.08. The firm had revenue of C$715.60 million for the quarter, compared to analyst estimates of C$656.72 million. CI Financial had a net margin of 0.16% and a return on equity of 0.29%. Equities research analysts predict that CI Financial will post 3.5093946 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.