CI Financial Corp. (TSE:CIX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CI Financial Corp. (TSE:CIX) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$19.56.

Several brokerages recently commented on CIX. CIBC dropped their price objective on shares of CI Financial from C$17.50 to C$17.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Jefferies Financial Group dropped their price objective on shares of CI Financial from C$20.00 to C$19.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Royal Bank of Canada dropped their price objective on shares of CI Financial from C$20.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Monday, May 13th. Raymond James raised shares of CI Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$20.00 to C$21.00 in a research note on Monday, May 13th. Finally, Scotiabank raised their price target on shares of CI Financial from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 30th.

Insider Buying and Selling

In related news, Senior Officer Manisha Burman sold 11,953 shares of CI Financial stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$14.23, for a total transaction of C$170,136.61. In related news, Senior Officer Amit Muni sold 7,424 shares of CI Financial stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of C$14.54, for a total transaction of C$107,981.34. Also, Senior Officer Manisha Burman sold 11,953 shares of CI Financial stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$14.23, for a total transaction of C$170,136.61. 14.02% of the stock is owned by insiders.

CI Financial Stock Down 0.7 %

CIX stock opened at C$14.40 on Tuesday. The stock has a market capitalization of C$2.18 billion, a P/E ratio of -12.74, a price-to-earnings-growth ratio of 0.70 and a beta of 1.63. The company has a current ratio of 0.47, a quick ratio of 0.17 and a debt-to-equity ratio of 160.56. The firm has a 50-day moving average price of C$15.00 and a 200-day moving average price of C$15.76. CI Financial has a 12 month low of C$12.51 and a 12 month high of C$17.73.

CI Financial (TSE:CIX) last issued its quarterly earnings data on Friday, May 10th. The company reported C$0.86 EPS for the quarter, missing the consensus estimate of C$0.87 by C($0.01). The company had revenue of C$645.68 million during the quarter, compared to the consensus estimate of C$690.26 million. CI Financial had a negative net margin of 5.55% and a negative return on equity of 8.77%. As a group, equities research analysts anticipate that CI Financial will post 3.5167464 EPS for the current fiscal year.

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.