CI Financial (TSE:CIX) Hits New 1-Year High – Here’s What Happened

CI Financial Corp. (TSE:CIX) shares hit a new 52-week high on Tuesday . The company traded as high as C$21.32 and last traded at C$21.10, with a volume of 45801 shares trading hands. The stock had previously closed at C$21.22.

Analysts Set New Price Targets

CIX has been the topic of a number of recent analyst reports. TD Securities lowered their target price on shares of CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Jefferies Financial Group raised their target price on shares of CI Financial from C$19.00 to C$20.00 in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.38.

CI Financial Price Performance

The stock has a market capitalization of C$3.05 billion, a PE ratio of -80.07, a P/E/G ratio of 0.04 and a beta of 1.67. The firm’s 50 day simple moving average is C$17.80 and its 200 day simple moving average is C$16.39. The company has a debt-to-equity ratio of 577.47, a current ratio of 0.34 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.90 EPS for the quarter. The firm had revenue of C$985.96 million for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. As a group, equities analysts forecast that CI Financial Corp. will post 4.010142 EPS 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.