Scotiabank Increases CI Financial (TSE:CIX) Price Target to C$21.00

CI Financial (TSE:CIX) had its price target raised by Scotiabank from C$20.00 to C$21.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 27.66% from the stock’s current price.

A number of other research firms have also commented on CIX. Raymond James set a C$19.00 price objective on shares of CI Financial and gave the company a “market perform” rating in a research note on Thursday, February 22nd. TD Securities upgraded CI Financial from a “buy” rating to an “action list buy” rating and increased their price target for the stock from C$21.00 to C$23.00 in a report on Monday, February 26th. Royal Bank of Canada boosted their price objective on CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday. BMO Capital Markets upped their target price on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. Finally, CIBC lifted their target price on CI Financial from C$15.00 to C$17.50 and gave the stock a “neutral” rating in a report on Monday, January 29th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$19.72.

CI Financial Trading Up 0.1 %

CIX traded up C$0.01 during midday trading on Tuesday, hitting C$16.45. 98,383 shares of the company were exchanged, compared to its average volume of 375,810. The firm’s 50 day moving average price is C$16.76 and its 200-day moving average price is C$15.45. CI Financial has a 1-year low of C$12.01 and a 1-year high of C$18.69. The firm has a market capitalization of C$2.53 billion, a P/E ratio of 46.97, a P/E/G ratio of 0.96 and a beta of 1.64. The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13.

CI Financial (TSE:CIX) last posted its quarterly earnings data on Friday, February 23rd. The company reported C$0.81 EPS for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.08. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. The company had revenue of C$715.60 million for the quarter, compared to analyst estimates of C$656.72 million. As a group, equities analysts forecast that CI Financial will post 3.5093946 EPS for the current fiscal year.

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.