Brokerages Set CI Financial Corp. (TSE:CIX) Target Price at C$19.50

CI Financial Corp. (TSE:CIX) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is C$19.50.

A number of research analysts recently issued reports on the stock. TD Securities upgraded shares of CI Financial from a “buy” rating to an “action list buy” rating and raised their price objective for the company from C$21.00 to C$23.00 in a report on Monday, February 26th. BMO Capital Markets lifted their price target on shares of CI Financial from C$17.00 to C$18.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. CIBC increased their price objective on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a report on Monday, January 29th. Raymond James set a C$19.00 target price on CI Financial and gave the stock a “market perform” rating in a report on Thursday, February 22nd. Finally, Jefferies Financial Group increased their price target on 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.

CI Financial Stock Down 0.8 %

Shares of TSE:CIX opened at C$16.51 on Thursday. CI Financial has a 52-week low of C$12.01 and a 52-week high of C$18.69. The company has a market capitalization of C$2.54 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.64. The company has a debt-to-equity ratio of 151.13, a quick ratio of 0.17 and a current ratio of 0.47. The company has a fifty day moving average of C$16.75 and a 200-day moving average of C$15.43.

CI Financial (TSE:CIX) last issued its earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of C$715.60 million during the quarter, compared to analysts’ expectations of C$656.72 million. On average, equities analysts predict that CI Financial 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.