CI Financial (TSE:CIX) Share Price Crosses Above Two Hundred Day Moving Average of $15.44

CI Financial Corp. (TSE:CIX) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

CIX has been the topic of several analyst reports. Jefferies Financial Group raised their price target 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. BMO Capital Markets raised their target price on shares of CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Scotiabank raised 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. TD Securities upgraded shares of CI Financial from a “buy” rating to an “action list buy” rating and raised their price target for the stock from C$21.00 to C$23.00 in a research report on Monday, February 26th. Finally, CIBC raised 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 report on Monday, January 29th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$19.50.

CI Financial Stock Down 1.5 %

The stock has a market capitalization 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 firm’s fifty day moving average is C$16.76 and its 200-day moving average is C$15.44. The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 151.13.

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 net margin of 0.16% and a return on equity of 0.29%. 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, equities research analysts predict that CI Financial Corp. will post 3.5093946 earnings per share 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.