CI Financial (TSE:CIX) Stock Passes Above 200 Day Moving Average of $19.91

CI Financial Corp (TSE:CIX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.91 and traded as high as $20.56. CI Financial shares last traded at $20.44, with a volume of 185,639 shares traded.

Several research analysts have recently issued reports on the company. BMO Capital Markets increased their price target on CI Financial from C$22.00 to C$23.00 in a research note on Friday. CIBC decreased their price target on CI Financial from C$22.00 to C$21.00 in a research note on Friday, August 9th. Finally, TD Securities increased their price target on CI Financial from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research note on Friday.

The company has a market cap of $4.62 billion and a P/E ratio of 9.31. The company has a 50 day moving average price of C$19.17 and a 200-day moving average price of C$19.93. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 104.47.

CI Financial (TSE:CIX) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.58. The business had revenue of C$530.32 million during the quarter. On average, research analysts expect that CI Financial Corp will post 2.4599999 earnings per share for the current fiscal year.

CI Financial Company Profile (TSE:CIX)

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.

Further Reading: What does an outperform rating mean?

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