CI Financial Corp. (TSE:CIX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CI Financial Corp. (TSE:CIX) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$19.56.

Several analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on CI Financial from C$20.00 to C$19.00 and set a “buy” rating for the company in a report on Monday, May 13th. Scotiabank raised their target price on 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. Royal Bank of Canada cut their target price on 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. CIBC cut their target price on 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. Finally, BMO Capital Markets cut their target price on 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.

Insider Buying and Selling at CI Financial

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

CI Financial Stock Down 0.7 %

CIX opened at C$14.40 on Tuesday. CI Financial has a 12 month low of C$12.51 and a 12 month high of C$17.73. The company has a debt-to-equity ratio of 160.56, a current ratio of 0.47 and a quick ratio of 0.17. The stock has a market cap of C$2.18 billion, a P/E ratio of -12.74, a P/E/G ratio of 0.70 and a beta of 1.63. The stock’s 50 day moving average price is C$15.00 and its 200 day moving average price is C$15.76.

CI Financial (TSE:CIX) last issued 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). The business had revenue of C$645.68 million during the quarter, compared to analyst estimates of C$690.26 million. CI Financial had a negative return on equity of 8.77% and a negative net margin of 5.55%. As a group, research analysts predict that CI Financial will post 3.5167464 earnings per share for the current year.

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.