CI Financial (TSE:CIX) Share Price Crosses 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.

Analyst Ratings Changes

CIX has been the topic of a number of recent research reports. Raymond James set a C$19.00 price target on CI Financial and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their price target on CI Financial from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. TD Securities raised CI Financial from a “buy” rating to an “action list buy” rating and increased their price target for the stock from C$21.00 to C$23.00 in a research report on Monday, February 26th. Jefferies Financial Group increased their price target on CI Financial from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Scotiabank increased their price target on CI Financial from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$19.50.

CI Financial Stock Performance

The business has a 50-day moving average of C$16.76 and a two-hundred day moving average of C$15.44. The company has a market cap of C$2.50 billion, a P/E ratio of 46.49, a P/E/G ratio of 0.96 and a beta of 1.64. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last issued its quarterly earnings data on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.73 by C$0.08. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. The company had revenue of C$715.60 million for the quarter, compared to the consensus estimate of C$656.72 million. On average, sell-side analysts predict that CI Financial Corp. will post 3.5093946 EPS 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.