CI Financial (TSE:CIX) Given New C$20.00 Price Target at Royal Bank of Canada

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

A number of other equities research analysts have also commented on the company. Raymond James set a C$19.00 price target on CI Financial and gave the stock a market perform rating in a research report on Thursday, February 22nd. BMO Capital Markets raised 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. Scotiabank raised their price target on CI Financial from C$19.00 to C$20.00 and gave the stock a sector perform rating in a research report on Monday, February 26th. TD Securities raised 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 lifted their target price on 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. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of C$19.72.

CI Financial Trading Up 0.9 %

TSE:CIX opened at C$16.41 on Monday. CI Financial has a 1-year low of C$12.01 and a 1-year high of C$18.69. The business’s 50-day moving average price is C$16.77 and its two-hundred day moving average price is C$15.46. The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 151.13. The firm has a market capitalization of C$2.52 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 0.96 and a beta of 1.64.

CI Financial (TSE:CIX) last released its earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of C$715.60 million for the quarter, compared to analyst estimates of C$656.72 million. On average, equities analysts expect that CI Financial will post 3.5093946 earnings per share 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.