CI Financial (CIX) Price Target Increased to C$21.00 by Analysts at TD Securities

CI Financial (TSE:CIX) had its price objective lifted by TD Securities from C$20.00 to C$21.00 in a research report sent to investors on Friday morning. TD Securities currently has a hold rating on the stock.

Other equities research analysts have also issued research reports about the company. CIBC cut their target price on CI Financial from C$25.00 to C$21.00 in a research report on Tuesday, October 30th. BMO Capital Markets cut their target price on CI Financial from C$26.00 to C$25.00 in a research report on Monday, October 29th. Canaccord Genuity cut their target price on CI Financial from C$27.00 to C$23.00 in a research report on Monday, October 29th. Barclays cut their target price on CI Financial from C$24.00 to C$21.00 in a research report on Friday, October 26th. Finally, Desjardins cut their target price on CI Financial from C$25.00 to C$24.00 in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of C$23.13.

Shares of TSE CIX traded up C$0.43 during midday trading on Friday, hitting C$20.12. 1,304,000 shares of the company’s stock were exchanged, compared to its average volume of 687,433. The company has a debt-to-equity ratio of 82.07, a current ratio of 0.74 and a quick ratio of 0.47. CI Financial has a twelve month low of C$18.38 and a twelve month high of C$30.23.

CI Financial (TSE:CIX) last issued its earnings results on Thursday, August 9th. The company reported C$0.61 earnings per share for the quarter, topping the consensus estimate of C$0.60 by C$0.01. The business had revenue of C$564.60 million for the quarter. As a group, research analysts predict that CI Financial will post 2.40000019502287 earnings per share for the current fiscal year.

In other news, insider Douglas J.R. Jamieson purchased 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were purchased at an average price of C$20.59 per share, for a total transaction of C$37,062.00. Also, Director William Thomas Holland purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 9th. The shares were purchased at an average price of C$19.60 per share, for a total transaction of C$1,960,000.00. Insiders have purchased a total of 218,300 shares of company stock worth $4,383,822 in the last 90 days.

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.

Read More: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for CI Financial (TSE:CIX)

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