CI Financial (TSE:CIX) Hits New 12-Month High – Here’s Why

CI Financial Corp. (TSE:CIX) hit a new 52-week high on Tuesday . The company traded as high as C$21.32 and last traded at C$21.10, with a volume of 45801 shares. The stock had previously closed at C$21.22.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CIX. Jefferies Financial Group increased their price target on CI Financial from C$19.00 to C$20.00 in a research report on Monday, July 29th. TD Securities lowered 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. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$19.38.

CI Financial Stock Performance

The stock has a market capitalization of C$2.97 billion, a P/E ratio of -78.59, a PEG ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The company has a 50-day moving average price of C$17.59 and a two-hundred day moving average price of C$16.33.

CI Financial (TSE:CIX) last posted its earnings results on Thursday, August 8th. The company reported C$0.90 earnings per share for the quarter. The business had revenue of C$985.96 million for the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. Equities analysts expect that CI Financial Corp. will post 4.010142 earnings per share for the current 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.