CI Financial (TSE:CIX) Price Target Lowered to C$13.00 at Scotiabank

CI Financial (TSE:CIX) had its target price decreased by Scotiabank from C$26.00 to C$13.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

Several other equities analysts have also commented on CIX. Royal Bank of Canada raised their target price on shares of CI Financial from C$26.00 to C$28.00 and gave the company a sector perform rating in a report on Tuesday, February 18th. Canaccord Genuity raised their target price on shares of CI Financial from C$27.00 to C$29.00 in a report on Tuesday, February 18th. TD Securities lifted their price target on shares of CI Financial from C$25.00 to C$27.00 and gave the company a hold rating in a report on Tuesday, February 18th. Finally, CIBC lifted their price target on shares of CI Financial from C$25.00 to C$26.00 in a report on Tuesday, February 18th.

CIX stock opened at C$13.85 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.70 and a debt-to-equity ratio of 111.85. CI Financial has a 12 month low of C$11.12 and a 12 month high of C$25.81. The firm has a market cap of $2.77 billion and a P/E ratio of 6.05. The company’s 50-day moving average price is C$20.68 and its two-hundred day moving average price is C$20.82.

CI Financial (TSE:CIX) last released its earnings results on Friday, February 14th. The company reported C$0.66 EPS for the quarter, beating the consensus estimate of C$0.63 by C$0.03. The firm had revenue of C$534.70 million during the quarter. Equities analysts predict that CI Financial will post 2.6400002 EPS for the current year.

In related news, Director Sheila A. Murray sold 41,211 shares of CI Financial stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of C$23.40, for a total transaction of C$964,230.25. Following the sale, the director now directly owns 85,684 shares of the company’s stock, valued at approximately C$2,004,782.82. Also, Director William Thomas Holland purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of C$15.75 per share, for a total transaction of C$1,575,000.00. Following the completion of the acquisition, the director now directly owns 106,920 shares in the company, valued at approximately C$1,683,990. Insiders have sold a total of 171,211 shares of company stock worth $4,190,661 over the last ninety days.

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.

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