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

Shares of CI Financial Corp. (TSE:CIX – Get Rating) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$29.50.

CIX has been the topic of several analyst reports. Barclays reduced their target price on CI Financial from C$34.00 to C$29.00 and set an “overweight” rating on the stock in a report on Wednesday, January 26th. Scotiabank reduced their target price on CI Financial from C$29.00 to C$27.00 in a report on Wednesday, February 23rd. CIBC reduced their target price on CI Financial from C$31.00 to C$28.00 in a report on Tuesday. Royal Bank of Canada reduced their target price on CI Financial from C$34.00 to C$29.00 and set an “outperform” rating on the stock in a report on Wednesday, February 23rd. Finally, TD Securities cut their price target on CI Financial from C$28.00 to C$24.00 and set a “hold” rating on the stock in a report on Wednesday, February 23rd.

TSE:CIX opened at C$17.08 on Thursday. The stock’s 50-day moving average is C$19.73 and its 200-day moving average is C$24.20. CI Financial has a 1-year low of C$16.80 and a 1-year high of C$30.88. The stock has a market cap of C$3.34 billion and a P/E ratio of 8.46. The company has a current ratio of 0.68, a quick ratio of 0.23 and a debt-to-equity ratio of 245.52.

CI Financial (TSE:CIX – Get Rating) last announced its earnings results on Tuesday, February 22nd. The company reported C$0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.86 by C$0.01. The company had revenue of C$762.90 million during the quarter. As a group, equities analysts forecast that CI Financial will post 3.8700001 EPS for the current year.

About CI Financial (Get Rating)

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.

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