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

Shares of CI Financial Corp. (TSE:CIX) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$20.25.

A number of equities research analysts have recently weighed in on the company. TD Securities dropped their price target on CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Jefferies Financial Group lifted their target price on shares of CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Friday.

CI Financial Stock Performance

Shares of TSE:CIX opened at C$22.96 on Monday. The firm has a 50 day moving average of C$19.07 and a 200 day moving average of C$16.75. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The company has a market capitalization of C$3.24 billion, a price-to-earnings ratio of -85.04, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. CI Financial has a 52 week low of C$13.08 and a 52 week high of C$23.33.

CI Financial (TSE:CIX) last posted its earnings results on Thursday, August 8th. The company reported C$0.90 earnings per share (EPS) for the quarter. The company had revenue of C$985.96 million for the quarter. CI Financial had a negative return on equity of 4.48% and a negative net margin of 1.54%. On average, sell-side analysts predict that CI Financial will post 4.010142 earnings per share for the current fiscal 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.