CI Financial (TSE:CIX) Stock Price Down 13.6%

CI Financial Corp. (TSE:CIX – Get Rating)’s stock price dropped 13.6% during trading on Friday . The stock traded as low as C$13.20 and last traded at C$13.30. Approximately 1,009,339 shares traded hands during trading, an increase of 55% from the average daily volume of 650,752 shares. The stock had previously closed at C$15.40.

Analyst Ratings Changes

Several brokerages have commented on CIX. TD Securities raised shares of CI Financial from a “hold” rating to a “buy” rating and set a C$17.00 price objective on the stock in a research report on Wednesday, April 19th. Royal Bank of Canada raised their target price on shares of CI Financial from C$16.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Monday, February 27th. BMO Capital Markets lowered their target price on CI Financial from C$20.00 to C$19.00 in a research note on Monday, February 27th. Finally, Scotiabank reduced their target price on CI Financial from C$20.50 to C$20.00 in a report on Monday, February 27th.

CI Financial Price Performance

The company has a debt-to-equity ratio of 270.41, a current ratio of 0.56 and a quick ratio of 0.17. The company has a market cap of C$2.35 billion, a PE ratio of 6.86, a PEG ratio of 0.62 and a beta of 1.49. The stock’s 50-day moving average is C$13.08 and its 200 day moving average is C$14.12.

CI Financial (TSE:CIX – Get Rating) last posted its earnings results on Friday, February 24th. The company reported C$0.74 earnings per share (EPS) for the quarter. The business had revenue of C$620.30 million for the quarter. On average, equities analysts anticipate that CI Financial Corp. will post 3.3578947 earnings per share for the current fiscal year.

CI Financial Company Profile

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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.