Raymond James Downgrades CI Financial (NYSE:CIXXF) to Strong Sell

Raymond James downgraded shares of CI Financial (NYSE:CIXXF) from a moderate buy rating to a strong sell rating in a research report report published on Thursday,Zacks.com reports.

Several other research analysts have also commented on the company. Keefe, Bruyette & Woods lowered CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th. TD Securities downgraded CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th.

CI Financial Trading Up 0.1 %

CIXXF opened at $21.73 on Thursday. The business’s 50-day simple moving average is $21.21 and its 200-day simple moving average is $16.27. CI Financial has a one year low of $10.16 and a one year high of $22.70. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $3.13 billion, a P/E ratio of -65.85 and a beta of 1.42.

CI Financial Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were issued a dividend of $0.1457 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is currently -169.69%.

CI Financial Company Profile

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.