CI Financial Corp. (TSE:CIX) Receives C$19.56 Average Price Target from Brokerages

Shares of CI Financial Corp. (TSE:CIX) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$19.56.

CIX has been the topic of several research reports. Scotiabank lifted their price target on shares of CI Financial from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. Jefferies Financial Group reduced their target price on shares of CI Financial from C$20.00 to C$19.00 and set a “buy” rating on the stock in a report on Monday, May 13th. CIBC reduced their target price on shares of CI Financial from C$17.50 to C$17.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Royal Bank of Canada reduced their target price on shares of CI Financial from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Monday, May 13th. Finally, BMO Capital Markets reduced their target price on shares of CI Financial from C$19.00 to C$17.00 and set an “outperform” rating on the stock in a report on Monday, May 13th.

CI Financial Price Performance

CIX stock opened at C$14.79 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 160.56. CI Financial has a 12 month low of C$12.51 and a 12 month high of C$17.73. The firm has a market cap of C$2.24 billion, a P/E ratio of -13.09, a P/E/G ratio of 0.70 and a beta of 1.63. The company’s 50-day moving average price is C$14.89 and its two-hundred day moving average price is C$15.74.

CI Financial (TSE:CIX) last released its earnings results on Friday, May 10th. The company reported C$0.86 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.01). CI Financial had a negative net margin of 5.55% and a negative return on equity of 8.77%. The firm had revenue of C$645.68 million during the quarter, compared to the consensus estimate of C$690.26 million. On average, analysts anticipate that CI Financial will post 3.5167464 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CI Financial news, Senior Officer Manisha Burman sold 11,953 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$14.23, for a total transaction of C$170,136.61. In other news, Senior Officer Amit Muni sold 7,424 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of C$14.54, for a total value of C$107,981.34. Also, Senior Officer Manisha Burman sold 11,953 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$14.23, for a total transaction of C$170,136.61. Corporate insiders own 14.02% of the company’s stock.

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.