CI Financial Corp. (TSE:CIX) Receives Average Rating of “Hold” from Brokerages

CI Financial Corp. (TSE:CIX) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$27.94.

A number of research analysts recently commented on the company. Scotiabank boosted their price target on CI Financial from C$25.00 to C$26.00 in a report on Friday, November 15th. TD Securities downgraded shares of CI Financial from a “buy” rating to a “sell” rating and boosted their target price for the stock from C$28.00 to C$32.00 in a report on Tuesday, November 26th. BMO Capital Markets raised their target price on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Raymond James boosted their price target on shares of CI Financial from C$27.00 to C$32.00 in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lowered CI Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th.

CI Financial Price Performance

Shares of CI Financial stock opened at C$31.09 on Friday. The company has a market capitalization of C$4.39 billion, a price-to-earnings ratio of -115.15, a PEG 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. The stock’s 50-day simple moving average is C$29.88 and its 200-day simple moving average is C$22.11. CI Financial has a 52 week low of C$13.87 and a 52 week high of C$31.41.

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.