TD Securities Raises CI Financial (TSE:CIX) Price Target to C$21.00

CI Financial (TSE:CIX) had its target price increased by investment analysts at TD Securities from C$20.00 to C$21.00 in a report issued on Friday, November 9th. The firm presently has a “hold” rating on the stock. TD Securities’ price target would indicate a potential upside of 5.74% from the stock’s current price.

Several other research firms have also weighed in on CIX. BMO Capital Markets lowered their price target on CI Financial from C$29.00 to C$26.00 in a research report on Friday, August 10th. Barclays lowered CI Financial from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from C$29.00 to C$24.00 in a report on Friday, August 10th. Royal Bank of Canada decreased their target price on CI Financial from C$25.00 to C$22.00 and set an “underperform” rating on the stock in a report on Friday, August 10th. Canaccord Genuity decreased their target price on CI Financial from C$30.00 to C$27.00 in a report on Tuesday, July 31st. Finally, Desjardins decreased their target price on CI Financial from C$25.00 to C$24.00 in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of C$23.13.

Shares of TSE:CIX traded down C$0.26 during trading on Friday, hitting C$19.86. 1,026,147 shares of the company were exchanged, compared to its average volume of 688,500. CI Financial has a fifty-two week low of C$18.38 and a fifty-two week high of C$30.23. The company has a quick ratio of 0.48, a current ratio of 0.81 and a debt-to-equity ratio of 100.21.

CI Financial (TSE:CIX) last posted its quarterly earnings results on Thursday, November 8th. The company reported C$0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.60 by C$0.02. The company had revenue of C$569.00 million for the quarter. Sell-side analysts anticipate that CI Financial will post 2.38999983633435 EPS for the current fiscal year.

In other CI Financial news, insider Douglas J.R. Jamieson acquired 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was acquired at an average cost of C$20.59 per share, for a total transaction of C$37,062.00. Also, Director William Thomas Holland bought 100,000 shares of the company’s stock in a transaction on Tuesday, October 9th. The stock was purchased at an average price of C$19.60 per share, with a total value of C$1,960,000.00. Over the last quarter, insiders have bought 151,800 shares of company stock valued at $2,979,562.

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.

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Analyst Recommendations for CI Financial (TSE:CIX)

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