CI Financial (TSE:CIX) Sets New 52-Week High at $18.54

CI Financial Corp. (TSE:CIX) shares hit a new 52-week high on Monday . The stock traded as high as C$18.54 and last traded at C$18.51, with a volume of 32901 shares trading hands. The stock had previously closed at C$18.41.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CIX. TD Securities cut their target price on CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Jefferies Financial Group increased their target price on CI Financial from C$19.00 to C$20.00 in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$19.38.

CI Financial Price Performance

The business’s fifty day moving average price is C$17.05 and its two-hundred day moving average price is C$16.15. The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The firm has a market capitalization of C$2.70 billion, a P/E ratio of -68.52, a PEG ratio of 0.04 and a beta of 1.67.

CI Financial (TSE:CIX) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.90 earnings per share for the quarter. CI Financial had a negative return on equity of 4.48% and a negative net margin of 1.54%. The firm had revenue of C$985.96 million during the quarter. Equities analysts expect that CI Financial Corp. will post 4.010917 earnings per share for the current fiscal year.

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.