CI Financial (CIX) Price Target Increased to C$22.00 by Analysts at CIBC

CI Financial (TSE:CIX) had its target price boosted by CIBC from C$21.00 to C$22.00 in a research report sent to investors on Friday morning.

Several other brokerages also recently issued reports on CIX. TD Securities lowered their price target on CI Financial from C$25.00 to C$24.00 in a research report on Friday, August 10th. BMO Capital Markets lowered their price target on CI Financial from C$29.00 to C$26.00 in a research report on Friday, August 10th. Barclays downgraded CI Financial from an overweight rating to an equal weight rating and lowered their price target for the company from C$29.00 to C$24.00 in a research report on Friday, August 10th. Royal Bank of Canada raised their price target on CI Financial from C$19.00 to C$20.00 and gave the company an underperform rating in a research report on Friday. Finally, Canaccord Genuity lowered their price target on CI Financial from C$30.00 to C$27.00 in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of C$23.13.

CI Financial stock traded up C$0.43 during mid-day trading on Friday, hitting C$20.12. 1,304,000 shares of the company’s stock were exchanged, compared to its average volume of 687,433. The company has a debt-to-equity ratio of 82.07, a current ratio of 0.74 and a quick ratio of 0.47. CI Financial has a 1-year low of C$18.38 and a 1-year high of C$30.23.

CI Financial (TSE:CIX) last issued its quarterly earnings results on Thursday, August 9th. The company reported C$0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.60 by C$0.01. The business had revenue of C$564.60 million during the quarter. Sell-side analysts anticipate that CI Financial will post 2.40000019502287 EPS for the current year.

In related news, Director Roy Ratnavel bought 10,000 shares of CI Financial stock in a transaction that occurred on Monday, August 20th. The stock was acquired at an average price of C$21.55 per share, for a total transaction of C$215,500.00. Also, insider Douglas J.R. Jamieson bought 1,800 shares of CI Financial stock in a transaction that occurred on Wednesday, September 5th. The stock was bought at an average price of C$20.59 per share, with a total value of C$37,062.00. Over the last ninety days, insiders bought 218,300 shares of company stock worth $4,383,822.

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.

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Analyst Recommendations for CI Financial (TSE:CIX)

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