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

CI Financial (TSE:CIX) had its price target upped by investment analysts at Scotiabank from C$20.00 to C$21.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 27.97% from the company’s current price.

CIX has been the topic of a number of other research reports. CIBC boosted their price objective on CI Financial from C$15.00 to C$17.50 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Raymond James set a C$19.00 price target on CI Financial and gave the company a “market perform” rating in a research note on Thursday, February 22nd. BMO Capital Markets upped their price target on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. TD Securities upgraded CI Financial from a “buy” rating to an “action list buy” rating and boosted their price objective for the company from C$21.00 to C$23.00 in a report on Monday, February 26th. Finally, Jefferies Financial Group boosted their price objective on CI Financial from C$19.00 to C$20.00 and gave the company a “buy” rating in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$19.72.

CI Financial Stock Up 0.9 %

CI Financial stock opened at C$16.41 on Tuesday. The stock has a market capitalization of C$2.52 billion, a PE ratio of 46.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.64. CI Financial has a 12 month low of C$12.01 and a 12 month high of C$18.69. The business has a 50 day simple moving average of C$16.77 and a 200-day simple moving average of C$15.46. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last issued its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.73 by C$0.08. The firm had revenue of C$715.60 million for the quarter, compared to analyst estimates of C$656.72 million. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. On average, analysts anticipate 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.