CI Financial (TSE:CIX) Price Target Cut to C$16.00

CI Financial (TSE:CIX – Get Rating) had its target price lowered by stock analysts at Barclays from C$19.00 to C$16.00 in a note issued to investors on Friday, BayStreet.CA reports. Barclays‘s price objective suggests a potential upside of 27.69% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Scotiabank dropped their target price on shares of CI Financial from C$20.50 to C$20.00 in a research report on Monday, February 27th. BMO Capital Markets reduced their price target on shares of CI Financial from C$20.00 to C$19.00 in a research report on Monday, February 27th. TD Securities raised shares of CI Financial from a “hold” rating to a “buy” rating and set a C$17.00 price target for the company in a research note on Wednesday, April 19th. Royal Bank of Canada upped their price objective on shares of CI Financial from C$18.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 16th. Finally, CIBC downgraded shares of CI Financial from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$19.00 to C$13.50 in a research note on Tuesday, May 16th.

CI Financial Stock Performance

Shares of CI Financial stock opened at C$12.53 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.17 and a debt-to-equity ratio of 270.41. The business has a 50-day moving average price of C$12.86 and a two-hundred day moving average price of C$14.07. CI Financial has a 1-year low of C$11.85 and a 1-year high of C$18.69. The company has a market cap of C$2.31 billion, a P/E ratio of 6.74, a PEG ratio of 0.62 and a beta of 1.49.

CI Financial (TSE:CIX – Get Rating) last issued its earnings results on Friday, February 24th. The company reported C$0.74 EPS for the quarter. The firm had revenue of C$620.30 million during the quarter. As a group, analysts anticipate that CI Financial will post 3.3578947 EPS for the current 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.