BMO Capital Markets Lowers CI Financial (NYSE:CIXX) Price Target to C$25.00

CI Financial (NYSE:CIXXGet Rating) had its target price cut by BMO Capital Markets from C$26.00 to C$25.00 in a report released on Friday morning, The Fly reports.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of CI Financial from C$32.00 to C$27.50 in a research report on Tuesday, May 3rd. TD Securities dropped their target price on shares of CI Financial from C$19.00 to C$16.00 in a research report on Friday. Royal Bank of Canada reduced their target price on CI Financial from C$34.00 to C$29.00 in a report on Wednesday, February 23rd. Finally, Scotiabank dropped their price target on CI Financial from C$25.00 to C$21.00 in a report on Friday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, CI Financial currently has a consensus rating of Buy and a consensus price target of $26.60.

Shares of CIXX stock traded up $0.57 during trading hours on Friday, reaching $11.56. The company had a trading volume of 92,199 shares, compared to its average volume of 64,620. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 0.50 and a beta of 1.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.68. CI Financial has a 12 month low of $10.66 and a 12 month high of $24.52. The business has a fifty day simple moving average of $14.62 and a 200-day simple moving average of $18.46.

CI Financial (NYSE:CIXXGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The company had revenue of $605.24 million during the quarter. CI Financial had a net margin of 15.02% and a return on equity of 39.67%. On average, equities research analysts expect that CI Financial will post 2.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.1391 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.56 annualized dividend and a yield of 4.81%. CI Financial’s payout ratio is 33.93%.

A number of large investors have recently added to or reduced their stakes in CIXX. Laurus Investment Counsel Inc. lifted its position in shares of CI Financial by 12.8% during the 4th quarter. Laurus Investment Counsel Inc. now owns 12,875 shares of the company’s stock valued at $344,000 after buying an additional 1,465 shares during the last quarter. CIBC Asset Management Inc raised its stake in CI Financial by 0.8% in the 4th quarter. CIBC Asset Management Inc now owns 177,655 shares of the company’s stock valued at $3,711,000 after acquiring an additional 1,490 shares during the period. Public Sector Pension Investment Board lifted its holdings in CI Financial by 0.4% during the third quarter. Public Sector Pension Investment Board now owns 492,928 shares of the company’s stock valued at $10,004,000 after purchasing an additional 1,946 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in CI Financial by 11.5% during the first quarter. Great West Life Assurance Co. Can now owns 24,361 shares of the company’s stock worth $409,000 after purchasing an additional 2,519 shares during the period. Finally, Shell Asset Management Co. increased its stake in shares of CI Financial by 27.5% in the fourth quarter. Shell Asset Management Co. now owns 21,800 shares of the company’s stock worth $456,000 after purchasing an additional 4,700 shares in the last quarter. 43.66% of the stock is owned by institutional investors and hedge funds.

CI Financial Company Profile (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.

Read More

The Fly logo

Analyst Recommendations for CI Financial (NYSE:CIXX)

Receive News & Ratings for CI Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CI Financial and related companies with MarketBeat.com's FREE daily email newsletter.