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

CI Financial Corp. (TSE:CIX) has received a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$19.50.

Several research firms have recently weighed in on CIX. Raymond James set a C$19.00 price objective on shares of CI Financial and gave the company a “market perform” rating in a research note on Thursday, February 22nd. TD Securities upgraded shares of CI Financial from a “buy” rating to an “action list buy” rating and lifted their price objective for the company from C$21.00 to C$23.00 in a research note on Monday, February 26th. Scotiabank lifted their price target on shares of CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research report 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 company a “neutral” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group lifted 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 report on Monday, February 26th.

Institutional Investors Weigh In On CI Financial

A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SNC raised its stake in CI Financial by 28.7% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock valued at $117,000 after acquiring an additional 1,440 shares during the period. Geode Capital Management LLC raised its stake in CI Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 21,471 shares of the company’s stock valued at $396,000 after acquiring an additional 748 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in CI Financial by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company’s stock valued at $505,000 after acquiring an additional 966 shares during the period. 10.06% of the stock is currently owned by institutional investors.

CI Financial Stock Up 0.1 %

Shares of TSE CIX opened at C$17.32 on Friday. The company has a 50 day simple moving average of C$16.53 and a 200 day simple moving average of C$15.38. The firm has a market cap of C$2.66 billion, a PE ratio of 49.49, a price-to-earnings-growth ratio of 0.96 and a beta of 1.64. CI Financial has a 1 year low of C$12.01 and a 1 year high of C$18.69. The company has a debt-to-equity ratio of 366.41, a current ratio of 0.33 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last released its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share (EPS) for the quarter, topping 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 0.46%. The firm had revenue of C$715.60 million during the quarter, compared to analyst estimates of C$656.72 million. On average, research analysts forecast that CI Financial will post 3.5732218 EPS for the current 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.