CI Financial (NYSE:CIXXF) Reaches New 12-Month High – Still a Buy?

CI Financial Corp. (NYSE:CIXXF)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $14.45 and last traded at $14.45, with a volume of 7446 shares traded. The stock had previously closed at $14.41.

CI Financial Stock Performance

The business’s 50-day simple moving average is $12.76 and its two-hundred day simple moving average is $11.88. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -16.81 and a beta of 1.36.

CI Financial (NYSE:CIXXF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.66 EPS for the quarter. The business had revenue of $720.62 million during the quarter. CI Financial had a positive return on equity of 50.83% and a negative net margin of 1.90%. As a group, sell-side analysts expect that CI Financial Corp. will post 2.65 earnings per share for the current fiscal year.

CI Financial Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.1471 dividend. This represents a yield of 4.37%. The ex-dividend date of this dividend is Friday, September 27th. CI Financial’s payout ratio is -67.05%.

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.