CI Financial (CIX) Scheduled to Post Earnings on Friday

CI Financial (TSE:CIX) is scheduled to release its earnings data before the market opens on Friday, May 10th. Analysts expect CI Financial to post earnings of C$0.87 per share for the quarter.

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

CI Financial Trading Up 0.3 %

Shares of TSE:CIX opened at C$16.75 on Wednesday. CI Financial has a 1 year low of C$12.17 and a 1 year high of C$18.69. The firm has a market capitalization of C$2.58 billion, a price-to-earnings ratio of 47.86, a price-to-earnings-growth ratio of 0.96 and a beta of 1.64. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17. The business’s 50 day moving average price is C$16.79 and its 200-day moving average price is C$15.54.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CIX. CIBC increased their target price on CI Financial from C$15.00 to C$17.50 and gave the company a “neutral” rating in a research report on Monday, January 29th. TD Securities upgraded CI Financial from a “buy” rating to an “action list buy” rating and raised their price objective for the company from C$21.00 to C$23.00 in a report on Monday, February 26th. Scotiabank raised their price objective on CI Financial from C$20.00 to C$21.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. Royal Bank of Canada raised their price objective on CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a report on Monday, April 29th. Finally, Raymond James set a C$19.00 price objective on CI Financial and gave the company a “market perform” rating in a report on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$19.72.

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.