CI Financial (NYSE:CIXXF) Shares Gap Up to $10.70

CI Financial Corp. (NYSE:CIXXFGet Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.70, but opened at $11.31. CI Financial shares last traded at $10.64, with a volume of 4,011 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CIXXF shares. Raymond James raised shares of CI Financial from a “hold” rating to a “moderate buy” rating in a research report on Sunday, May 12th. Keefe, Bruyette & Woods downgraded shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 13th.

Get Our Latest Report on CI Financial

CI Financial Trading Down 0.8 %

The firm’s 50-day simple moving average is $12.15 and its 200 day simple moving average is $11.54. The stock has a market cap of $1.65 billion, a P/E ratio of 4.41 and a beta of 1.43. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.23.

CI Financial (NYSE:CIXXFGet Free Report) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $525.68 million during the quarter, compared to analyst estimates of $486.16 million. CI Financial had a negative net margin of 6.49% and a positive return on equity of 42.97%. As a group, equities research analysts anticipate that CI Financial Corp. will post 2.75 earnings per share for the current year.

CI Financial Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.1454 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a dividend yield of 4.55%. CI Financial’s dividend payout ratio (DPR) is presently -67.05%.

CI Financial Company Profile

(Get Free Report)

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.

Further Reading

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