CI Financial (TSE:CIX) Sets New 1-Year High – Still a Buy?

CI Financial Corp. (TSE:CIX) shares hit a new 52-week high during trading on Monday . The company traded as high as C$19.70 and last traded at C$19.68, with a volume of 180193 shares changing hands. The stock had previously closed at C$19.32.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on CI Financial from C$19.00 to C$20.00 in a report on Monday, July 29th. TD Securities cut their price target on CI Financial from C$21.00 to C$20.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$19.38.

CI Financial Stock Up 1.0 %

The company has a market cap of C$2.90 billion, a PE ratio of -75.30, a P/E/G ratio of 0.04 and a beta of 1.67. The business’s 50 day moving average is C$17.35 and its 200-day moving average is C$16.24. 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 released its earnings results on Thursday, August 8th. The company reported C$0.90 EPS for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. The firm had revenue of C$985.96 million for the quarter. As a group, analysts predict that CI Financial Corp. will post 4.010142 EPS for the current 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.