CI Financial (TSE:CIX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of CI Financial Corp. (TSE:CIX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.44 and traded as high as C$21.52. CI Financial shares last traded at C$21.21, with a volume of 304,255 shares traded.

Analysts Set New Price Targets

CIX has been the subject of a number of recent analyst reports. TD Securities lowered their target price on shares of 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. Jefferies Financial Group lifted their target price on shares of CI Financial from C$19.00 to C$20.00 in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$19.38.

CI Financial Price Performance

The firm’s fifty day moving average price is C$18.02 and its 200 day moving average price is C$16.44. The firm has a market capitalization of C$3.00 billion, a PE ratio of -78.56, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47.

CI Financial (TSE:CIX) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.90 EPS for the quarter. The business had revenue of C$985.96 million for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. As a group, equities analysts forecast that CI Financial Corp. will post 4.010142 earnings per share 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.