CI Financial (TSE:CIX) Reaches New 1-Year Low at $13.85

CI Financial Corp. (TSE:CIXGet Rating)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$13.85 and last traded at C$13.93, with a volume of 242310 shares trading hands. The stock had previously closed at C$14.63.

A number of research firms recently weighed in on CIX. CIBC decreased their target price on CI Financial from C$28.00 to C$23.00 and set an “outperform” rating on the stock in a research report on Monday, May 16th. Royal Bank of Canada cut shares of CI Financial from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$26.00 to C$19.00 in a research report on Monday, May 16th. Scotiabank cut their price objective on shares of CI Financial from C$25.00 to C$21.00 in a research report on Friday, May 13th. Keefe, Bruyette & Woods cut their price target on shares of CI Financial from C$25.00 to C$19.00 in a report on Wednesday, May 18th. Finally, Canaccord Genuity Group decreased their price objective on shares of CI Financial from C$27.50 to C$23.50 in a research report on Monday, May 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, CI Financial presently has an average rating of “Hold” and an average target price of C$22.94.

The company has a market capitalization of C$2.73 billion and a price-to-earnings ratio of 6.59. The stock has a fifty day simple moving average of C$16.34 and a 200-day simple moving average of C$21.14. The company has a debt-to-equity ratio of 226.76, a current ratio of 0.65 and a quick ratio of 0.18.

CI Financial (TSE:CIXGet Rating) last posted its earnings results on Thursday, May 12th. The company reported C$0.85 earnings per share (EPS) for the quarter. The firm had revenue of C$633.75 million for the quarter. As a group, equities analysts expect that CI Financial Corp. will post 3.6300001 EPS for the current fiscal year.

About CI Financial (TSE:CIX)

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.

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