CI Financial Corp. (TSE:CIX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of CI Financial Corp. (TSE:CIX) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$19.50.

A number of equities research analysts have recently issued reports on the company. TD Securities upgraded CI Financial from a “buy” rating to an “action list buy” rating and increased their target price for the company from C$21.00 to C$23.00 in a research note on Monday, February 26th. Jefferies Financial Group lifted their price objective on shares of CI Financial from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Scotiabank upped their target price on shares of CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. CIBC lifted their price target on shares of CI Financial from C$15.00 to C$17.50 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets upped their price objective on shares of CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Monday, February 26th.

Institutional Investors Weigh In On CI Financial

Several hedge funds and other institutional investors have recently modified their holdings of CIX. Bank of New York Mellon Corp grew its position in shares of CI Financial by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company’s stock valued at $505,000 after buying an additional 966 shares during the last quarter. Geode Capital Management LLC grew its position in CI Financial by 23.9% in the 1st quarter. Geode Capital Management LLC now owns 26,594 shares of the company’s stock worth $481,000 after purchasing an additional 5,123 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC grew its position in CI Financial by 28.7% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock worth $117,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors own 10.11% of the company’s stock.

CI Financial Price Performance

CI Financial stock opened at C$16.33 on Thursday. The firm has a fifty day moving average of C$16.69 and a 200-day moving average of C$15.39. CI Financial has a 52-week low of C$12.01 and a 52-week high of C$18.69. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13. The firm has a market capitalization of C$2.51 billion, a P/E ratio of 46.66, a PEG ratio of 0.96 and a beta of 1.64.

CI Financial (TSE:CIX) last announced its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of C$715.60 million during the quarter, compared to the consensus estimate of C$656.72 million. As a group, analysts predict that CI Financial will post 3.5093946 EPS for the current year.

CI Financial Company Profile

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.