CI Financial (TSE:CIX) Share Price Passes Above Two Hundred Day Moving Average of $15.44

CI Financial Corp. (TSE:CIX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.44 and traded as high as C$16.45. CI Financial shares last traded at C$16.27, with a volume of 299,466 shares changing hands.

Analysts Set New Price Targets

CIX has been the subject of several research reports. Jefferies Financial Group boosted their target price on CI Financial from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Monday, February 26th. Raymond James set a C$19.00 price objective on CI Financial and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Scotiabank upped their price objective on CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. CIBC upped their price objective on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets upped their price objective on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$19.50.

CI Financial Trading Down 0.7 %

The firm has a market cap of C$2.48 billion, a price-to-earnings ratio of 46.14, a PEG ratio of 0.96 and a beta of 1.64. The company has a debt-to-equity ratio of 151.13, a quick ratio of 0.17 and a current ratio of 0.47. The business has a fifty day moving average of C$16.76 and a two-hundred day moving average of C$15.45.

CI Financial (TSE:CIX) last released its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.08. The business had revenue of C$715.60 million for the quarter, compared to analysts’ expectations of C$656.72 million. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. As a group, equities analysts expect that CI Financial Corp. will post 3.5093946 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.