CI Financial (TSE:CIX) Share Price Passes Above Two Hundred Day Moving Average of $15.44

CI Financial Corp. (TSE:CIX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$15.44 and traded as high as C$16.45. CI Financial shares last traded at C$16.27, with a volume of 299,466 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CIX shares. Raymond James set a C$19.00 price target on CI Financial and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their price target on CI Financial from C$18.00 to C$19.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. CIBC raised their price objective on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a research report on Monday, January 29th. BMO Capital Markets raised their price objective on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Finally, TD Securities raised CI Financial from a “buy” rating to an “action list buy” rating and raised their price objective for the company from C$21.00 to C$23.00 in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CI Financial presently has an average rating of “Hold” and a consensus target price of C$19.50.

CI Financial Stock Performance

The stock has a market capitalization of C$2.48 billion, a PE ratio of 46.14, a PEG ratio of 0.96 and a beta of 1.64. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13. The firm has a 50 day moving average price of C$16.76 and a 200-day moving average price of C$15.45.

CI Financial (TSE:CIX) last announced its quarterly earnings data on Friday, February 23rd. The company reported C$0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.73 by C$0.08. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. The firm had revenue of C$715.60 million during the quarter, compared to analysts’ expectations of C$656.72 million. Research analysts expect that CI Financial Corp. will post 3.5093946 EPS for the current fiscal year.

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.