CI Financial Corp. (TSE:CIX) Receives Average Recommendation of “Hold” from Analysts

CI Financial Corp. (TSE:CIX) has received a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$27.94.

Separately, Raymond James cut shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd.

CI Financial Price Performance

Shares of CIX opened at C$30.68 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88. The stock has a market cap of C$4.42 billion, a P/E ratio of -63.96, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The stock’s 50-day moving average price is C$31.24 and its two-hundred day moving average price is C$27.59. CI Financial has a 1 year low of C$13.87 and a 1 year high of C$31.48.

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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, March 31st. CI Financial’s payout ratio is currently -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.