CI Financial (TSE:CIX) Shares Up 1.5%

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CI Financial Corp (TSE:CIX) shares shot up 1.5% during mid-day trading on Monday . The stock traded as high as C$21.44 and last traded at C$21.37. 173,563 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 654,947 shares. The stock had previously closed at C$21.05.

Several research firms have recently issued reports on CIX. CIBC increased their price target on CI Financial from C$21.00 to C$22.00 in a research note on Friday, May 10th. Royal Bank of Canada raised their target price on CI Financial from C$18.00 to C$21.00 and gave the company an “underperform” rating in a research note on Friday, May 10th. Finally, BMO Capital Markets raised their target price on CI Financial from C$24.00 to C$25.00 in a research note on Friday, May 10th.

The stock’s 50 day moving average price is C$20.28. The stock has a market capitalization of $5.02 billion and a price-to-earnings ratio of 9.01. The company has a debt-to-equity ratio of 106.27, a quick ratio of 0.62 and a current ratio of 1.06.

CI Financial (TSE:CIX) last announced its earnings results on Thursday, May 9th. The company reported C$0.58 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.58. The firm had revenue of C$526.80 million for the quarter. On average, equities analysts predict that CI Financial Corp will post 2.56 earnings per share for the current year.

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CI Financial Company Profile (TSE:CIX)

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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