TD Securities Trims CI Financial (TSE:CIX) Target Price to C$14.50

CI Financial (TSE:CIX – Get Rating) had its target price decreased by TD Securities from C$16.00 to C$14.50 in a report issued on Wednesday morning, BayStreet.CA reports.

A number of other research analysts have also recently weighed in on the company. Scotiabank lowered their price objective on CI Financial from C$21.00 to C$18.00 in a research report on Tuesday, July 26th. Royal Bank of Canada lowered shares of CI Financial from an outperform rating to a hold rating and dropped their price target for the stock from C$26.00 to C$19.00 in a research report on Monday, May 16th. BMO Capital Markets decreased their price objective on shares of CI Financial from C$26.00 to C$25.00 in a research report on Friday, May 13th. Keefe, Bruyette & Woods dropped their target price on shares of CI Financial from C$25.00 to C$19.00 in a report on Wednesday, May 18th. Finally, CIBC cut their price target on CI Financial from C$28.00 to C$23.00 and set an outperform rating for the company in a research note on Monday, May 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of C$22.11.

CI Financial Stock Down 1.8 %

CIX stock opened at C$14.43 on Wednesday. The company has a market cap of C$2.78 billion and a price-to-earnings ratio of 6.77. The company has a debt-to-equity ratio of 226.76, a quick ratio of 0.18 and a current ratio of 0.65. The business’s 50-day moving average is C$14.48 and its two-hundred day moving average is C$17.85. CI Financial has a fifty-two week low of C$12.98 and a fifty-two week high of C$30.88.

CI Financial (TSE:CIX – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported C$0.85 earnings per share for the quarter. The business had revenue of C$633.75 million during the quarter. As a group, analysts forecast that CI Financial will post 3.5275855 earnings per share for the current year.

About CI Financial

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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.