CI Financial Corp. (TSE:CIX) Receives Consensus Recommendation of “Hold” from Analysts

CI Financial Corp. (TSE:CIXGet Free Report) has been given a consensus rating of “Hold” by the six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$18.64.

Several research firms have recently commented on CIX. Scotiabank upped their target price on CI Financial from C$17.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. CIBC increased their price target on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods decreased their price target on CI Financial from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Friday, December 15th. Royal Bank of Canada decreased their price target on CI Financial from C$19.00 to C$18.00 in a report on Thursday, January 4th. Finally, TD Securities cut their price objective on shares of CI Financial from C$20.00 to C$18.00 and set a “buy” rating on the stock in a research report on Wednesday, October 18th.

Check Out Our Latest Stock Analysis on CIX

Hedge Funds Weigh In On CI Financial

Several hedge funds and other institutional investors have recently modified their holdings of CIX. Geode Capital Management LLC lifted its position in CI Financial by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 21,471 shares of the company’s stock valued at $396,000 after purchasing an additional 748 shares during the period. Bank of New York Mellon Corp raised its position in CI Financial by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company’s stock worth $505,000 after acquiring an additional 966 shares during the period. Finally, BNP Paribas Arbitrage SNC raised its position in CI Financial by 28.7% in the first quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock worth $117,000 after acquiring an additional 1,440 shares during the period. Hedge funds and other institutional investors own 11.99% of the company’s stock.

CI Financial Stock Performance

CIX stock opened at C$15.91 on Friday. The business’s fifty day moving average is C$15.25 and its 200-day moving average is C$15.44. The company has a quick ratio of 0.17, a current ratio of 0.35 and a debt-to-equity ratio of 275.51. The company has a market cap of C$2.49 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 0.96 and a beta of 1.57. CI Financial has a twelve month low of C$12.01 and a twelve month high of C$18.69.

CI Financial (TSE:CIXGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported C$0.81 EPS for the quarter. The company had revenue of C$616.53 million for the quarter. CI Financial had a return on equity of 4.14% and a net margin of 1.89%. Equities research analysts forecast that CI Financial will post 3.5169492 EPS for the current year.

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.

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Analyst Recommendations for CI Financial (TSE:CIX)

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