CI Financial (TSE:CIX) Price Target Raised to C$20.00

CI Financial (TSE:CIX) had its target price increased by Royal Bank of Canada from C$19.00 to C$20.00 in a research note published on Monday, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

CIX has been the topic of a number of other reports. BMO Capital Markets increased their price target on CI Financial from C$17.00 to C$18.00 and gave the stock a market perform rating in a research report on Monday, February 26th. Jefferies Financial Group increased their price objective on CI Financial from C$19.00 to C$20.00 and gave the stock a buy rating in a report on Monday, February 26th. TD Securities raised CI Financial from a buy rating to an action list buy rating and increased their price objective for the stock from C$21.00 to C$23.00 in a report on Monday, February 26th. Raymond James set a C$19.00 price objective on CI Financial and gave the stock a market perform rating in a report on Thursday, February 22nd. Finally, Scotiabank increased their price objective on CI Financial from C$19.00 to C$20.00 and gave the stock a sector perform rating in a report on Monday, February 26th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$19.72.

CI Financial Trading Up 0.9 %

Shares of TSE CIX opened at C$16.41 on Monday. The stock’s 50 day moving average price is C$16.77 and its two-hundred day moving average price is C$15.46. CI Financial has a 52-week low of C$12.01 and a 52-week high of C$18.69. The stock has a market capitalization of C$2.52 billion, a P/E ratio of 46.89, a PEG ratio of 0.96 and a beta of 1.64. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13.

CI Financial (TSE:CIX) last announced its quarterly earnings data 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. The firm had revenue of C$715.60 million for the quarter, compared to analysts’ expectations of C$656.72 million. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. On average, analysts anticipate that CI Financial will post 3.5093946 earnings per share for the current fiscal 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.