Royal Bank of Canada Cuts CI Financial (TSE:CIX) Price Target to C$18.00

CI Financial (TSE:CIXGet Free Report) had its price target cut by investment analysts at Royal Bank of Canada from C$20.00 to C$18.00 in a report released on Monday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 21.21% from the company’s previous close.

Several other equities research analysts also recently weighed in on CIX. CIBC boosted their target price on shares of CI Financial from C$15.00 to C$17.50 and gave the stock a “neutral” rating in a research report on Monday, January 29th. BMO Capital Markets upped 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 note on Monday, February 26th. Raymond James upgraded CI Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$20.00 to C$21.00 in a research report on Monday. TD Securities raised CI Financial from a “buy” rating to an “action list buy” rating and upped their price target for the company from C$21.00 to C$23.00 in a research report on Monday, February 26th. Finally, Scotiabank lifted their price objective on shares of CI Financial from C$20.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$19.56.

Check Out Our Latest Research Report on CIX

CI Financial Stock Up 0.9 %

CIX traded up C$0.13 on Monday, reaching C$14.85. The company’s stock had a trading volume of 440,029 shares, compared to its average volume of 387,186. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17. CI Financial has a 1 year low of C$12.17 and a 1 year high of C$17.73. The business’s 50 day moving average is C$16.74 and its 200 day moving average is C$15.60. The stock has a market cap of C$2.25 billion, a price-to-earnings ratio of 42.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63.

CI Financial (TSE:CIXGet Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.08. The business had revenue of C$715.60 million during the quarter, compared to the consensus estimate of C$656.72 million. CI Financial had a net margin of 0.16% and a return on equity of 0.29%. As a group, research analysts forecast that CI Financial will post 3.6526055 EPS for the current fiscal year.

About CI Financial

(Get Free Report)

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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