CI Financial (TSE:CIX) Shares Pass Above 200-Day Moving Average – What’s Next?

CI Financial Corp. (TSE:CIX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$26.74 and traded as high as C$31.32. CI Financial shares last traded at C$31.28, with a volume of 384,534 shares traded.

Wall Street Analyst Weigh In

Separately, Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$27.94.

CI Financial Stock Down 0.1 %

The firm has a market cap of C$4.50 billion, a price-to-earnings ratio of -65.06, a PEG ratio of 0.04 and a beta of 1.67. The firm has a fifty day moving average price of C$31.24 and a 200-day moving average price of C$26.93. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Monday, March 31st. CI Financial’s dividend payout ratio is presently -166.77%.

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.