Research Analysts Set Expectations for CI Financial Corp’s Q1 2020 Earnings (TSE:CIX)

CI Financial Corp (TSE:CIX) – Desjardins decreased their Q1 2020 earnings per share estimates for shares of CI Financial in a research note issued to investors on Monday, March 23rd. Desjardins analyst G. Ho now expects that the company will earn $0.60 per share for the quarter, down from their prior estimate of $0.66.

CI Financial (TSE:CIX) last released its earnings results on Friday, February 14th. The company reported C$0.66 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.63 by C$0.03. The business had revenue of C$534.70 million for the quarter.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity lifted their target price on CI Financial from C$27.00 to C$29.00 in a research note on Tuesday, February 18th. Scotiabank lowered their price objective on CI Financial from C$26.00 to C$13.00 in a research note on Tuesday. Royal Bank of Canada boosted their price objective on CI Financial from C$26.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 18th. CIBC boosted their price objective on CI Financial from C$25.00 to C$26.00 in a research note on Tuesday, February 18th. Finally, TD Securities boosted their price objective on CI Financial from C$25.00 to C$27.00 and gave the company a “hold” rating in a research note on Tuesday, February 18th.

TSE CIX opened at C$13.85 on Wednesday. The stock has a market capitalization of $2.77 billion and a price-to-earnings ratio of 6.05. CI Financial has a one year low of C$11.12 and a one year high of C$25.81. The company has a debt-to-equity ratio of 111.85, a current ratio of 0.70 and a quick ratio of 0.38. The business’s fifty day moving average is C$20.68 and its 200-day moving average is C$20.82.

In other news, Director William Thomas Holland acquired 100,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of C$15.75 per share, for a total transaction of C$1,575,000.00. Following the purchase, the director now owns 106,920 shares of the company’s stock, valued at approximately C$1,683,990. Also, Director Sheila A. Murray sold 25,000 shares of CI Financial stock in a transaction dated Friday, January 24th. The shares were sold at an average price of C$23.19, for a total value of C$579,737.50. Following the transaction, the director now directly owns 50,047 shares of the company’s stock, valued at approximately C$1,160,564.91. Insiders sold a total of 171,211 shares of company stock worth $4,190,661 over the last 90 days.

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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