Scotiabank Boosts CI Financial (TSE:CIX) Price Target to C$21.00

CI Financial (TSE:CIX) had its target price boosted by investment analysts at Scotiabank from C$20.00 to C$21.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 27.66% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group lifted their price target on 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. CIBC boosted their price target on 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. 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. BMO Capital Markets increased 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. Finally, TD Securities upgraded shares of CI Financial from a “buy” rating to an “action list buy” rating and upped their target price for the stock from C$21.00 to C$23.00 in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$19.72.

CI Financial Trading Up 0.1 %

Shares of CI Financial stock traded up C$0.01 on Tuesday, hitting C$16.45. The stock had a trading volume of 98,383 shares, compared to its average volume of 375,810. The stock has a market cap of C$2.53 billion, a price-to-earnings ratio of 46.97, 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. The stock’s 50-day simple moving average is C$16.76 and its two-hundred day simple moving average is C$15.45. CI Financial has a one year low of C$12.01 and a one year high of C$18.69.

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 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 company had revenue of C$715.60 million for the quarter, compared to the consensus estimate of C$656.72 million. As a group, sell-side analysts predict that CI Financial will post 3.5093946 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.