Scotiabank Lowers CI Financial (TSE:CIX) Price Target to C$25.00

CI Financial (TSE:CIX – Get Rating) had its price objective cut by Scotiabank from C$27.00 to C$25.00 in a research note published on Tuesday, BayStreet.CA reports.

CIX has been the subject of several other research reports. CIBC lowered their price target on CI Financial from C$31.00 to C$28.00 in a research report on Tuesday, April 26th. TD Securities dropped their target price on shares of CI Financial from C$28.00 to C$24.00 and set a hold rating on the stock in a research note on Wednesday, February 23rd. Keefe, Bruyette & Woods cut their price target on shares of CI Financial from C$36.00 to C$29.00 and set a market perform rating on the stock in a report on Wednesday, February 23rd. Royal Bank of Canada decreased their price objective on shares of CI Financial from C$34.00 to C$29.00 and set an outperform rating for the company in a report on Wednesday, February 23rd. Finally, Barclays cut their target price on CI Financial from C$34.00 to C$29.00 and set an overweight rating on the stock in a research note on Wednesday, January 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of C$29.25.

Shares of TSE CIX opened at C$16.72 on Tuesday. The company has a 50 day simple moving average of C$19.36 and a two-hundred day simple moving average of C$23.96. CI Financial has a fifty-two week low of C$16.59 and a fifty-two week high of C$30.88. The company has a market capitalization of C$3.27 billion and a price-to-earnings ratio of 8.28. The company has a debt-to-equity ratio of 245.52, a quick ratio of 0.23 and a current ratio of 0.68.

CI Financial (TSE:CIX – Get Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The company reported C$0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.86 by C$0.01. The company had revenue of C$762.90 million for the quarter. On average, analysts forecast that CI Financial will post 3.8599999 earnings per share for the current fiscal 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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