CI Financial (TSE:CIX) Hits New 12-Month High – What’s Next?

Shares of CI Financial Corp. (TSE:CIX) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$21.86 and last traded at C$21.86, with a volume of 141251 shares changing hands. The stock had previously closed at C$21.63.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIX. Jefferies Financial Group boosted their target price on shares of CI Financial from C$19.00 to C$20.00 in a report on Monday, July 29th. TD Securities lowered their target price on shares of CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.38.

CI Financial Stock Up 1.1 %

The business’s fifty day moving average is C$18.34 and its two-hundred day moving average is C$16.53. The company has a market cap of C$3.09 billion, a P/E ratio of -80.59, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34.

CI Financial (TSE:CIX) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.90 earnings per share for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. The firm had revenue of C$985.96 million during the quarter. Equities analysts predict that CI Financial Corp. will post 4.010142 EPS for the current 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.