CI Financial (CIX) Price Target Increased to C$20.00 by Analysts at Royal Bank of Canada

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CI Financial (TSE:CIX) had its price objective upped by Royal Bank of Canada from C$19.00 to C$20.00 in a report published on Friday morning. They currently have an underperform rating on the stock.

Several other research analysts have also recently commented on CIX. TD Securities boosted their price target on CI Financial from C$20.00 to C$21.00 and gave the stock a hold rating in a research note on Friday. Barclays cut their price target on CI Financial from C$24.00 to C$21.00 in a research note on Friday, October 26th. BMO Capital Markets cut their price target on CI Financial from C$29.00 to C$26.00 in a research note on Friday, August 10th. Canaccord Genuity cut their price target on CI Financial from C$27.00 to C$23.00 in a research note on Monday, October 29th. Finally, CIBC cut their price target on CI Financial from C$25.00 to C$21.00 in a research note on Tuesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. CI Financial presently has an average rating of Hold and a consensus target price of C$23.13.

Shares of TSE:CIX traded up C$0.43 during trading on Friday, hitting C$20.12. The company’s stock had a trading volume of 1,304,000 shares, compared to its average volume of 687,433. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 82.07. CI Financial has a fifty-two week low of C$18.38 and a fifty-two week high of C$30.23.

CI Financial (TSE:CIX) last released its quarterly earnings results on Thursday, August 9th. The company reported C$0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.60 by C$0.01. The business had revenue of C$564.60 million during the quarter. Sell-side analysts forecast that CI Financial will post 2.40000019502287 earnings per share for the current year.

In other news, insider Douglas J.R. Jamieson acquired 1,800 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average price of C$20.59 per share, for a total transaction of C$37,062.00. Also, Director William Thomas Holland acquired 56,500 shares of the business’s stock in a transaction on Monday, August 13th. The shares were purchased at an average price of C$21.04 per share, for a total transaction of C$1,188,760.00. Insiders have acquired 218,300 shares of company stock worth $4,383,822 in the last 90 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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Analyst Recommendations for CI Financial (TSE:CIX)

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