CI Financial (TSE:CIX) Stock Rating Lowered by Royal Bank of Canada

CI Financial (TSE:CIXGet Rating) was downgraded by investment analysts at Royal Bank of Canada to a “hold” rating in a research note issued to investors on Monday, TipRanks reports. They currently have a C$19.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 33.71% from the stock’s current price.

CIX has been the topic of a number of other reports. CIBC dropped their price target on CI Financial from C$31.00 to C$28.00 in a report on Tuesday, April 26th. BMO Capital Markets lowered their target price on CI Financial from C$26.00 to C$25.00 in a research note on Friday. Keefe, Bruyette & Woods reduced their price target on shares of CI Financial from C$36.00 to C$29.00 and set a “market perform” rating for the company in a research report on Wednesday, February 23rd. TD Securities dropped their target price on shares of CI Financial from C$19.00 to C$16.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Scotiabank decreased their price target on shares of CI Financial from C$25.00 to C$21.00 in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$24.75.

Shares of CIX stock traded down C$0.76 during trading hours on Monday, reaching C$14.21. The company had a trading volume of 761,285 shares, compared to its average volume of 848,049. The company has a market cap of C$2.78 billion and a price-to-earnings ratio of 7.03. The company has a debt-to-equity ratio of 245.52, a current ratio of 0.68 and a quick ratio of 0.23. CI Financial has a 12 month low of C$13.90 and a 12 month high of C$30.88. The business has a fifty day simple moving average of C$18.54 and a 200-day simple moving average of C$23.36.

CI Financial (TSE:CIXGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported C$0.87 EPS for the quarter, beating analysts’ consensus estimates of C$0.86 by C$0.01. The company had revenue of C$762.90 million during the quarter. On average, equities research analysts expect that CI Financial will post 3.8199998 earnings per share 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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Analyst Recommendations for CI Financial (TSE:CIX)

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