CI Financial (CIX) Receives Average Rating of “Hold” from Brokerages

Shares of CI Financial (TSE:CIX) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$29.71.

CIX has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of CI Financial from C$28.00 to C$26.00 and set an “underperform” rating for the company in a report on Friday, February 16th. Desjardins decreased their price objective on shares of CI Financial from C$30.00 to C$29.00 in a report on Friday, February 16th. BMO Capital Markets raised shares of CI Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$31.00 to C$32.00 in a report on Friday, February 16th. Barclays boosted their price objective on shares of CI Financial from C$31.00 to C$32.00 in a report on Friday, February 16th. Finally, Scotiabank decreased their price objective on shares of CI Financial from C$30.50 to C$29.00 and set a “sector perform” rating for the company in a report on Friday, February 16th.

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CIX opened at C$26.84 on Friday. CI Financial has a twelve month low of C$25.79 and a twelve month high of C$30.23.

CI Financial (TSE:CIX) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.59 earnings per share for the quarter, meeting the consensus estimate of C$0.59. CI Financial had a net margin of 21.66% and a return on equity of 28.22%. The firm had revenue of C$594.40 million during the quarter.

In other CI Financial news, Director Neal A. Kerr sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of C$30.12, for a total transaction of C$135,540.00. Also, Director David P. Miller bought 2,800 shares of CI Financial stock in a transaction on Friday, March 23rd. The shares were acquired at an average cost of C$28.09 per share, with a total value of C$78,652.00. Over the last ninety days, insiders have sold 5,396 shares of company stock valued at $161,587.

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About CI Financial

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.

Analyst Recommendations for CI Financial (TSE:CIX)

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