Brokerages Set CI Financial Corp. (TSE:CIX) PT at C$27.94

Shares of CI Financial Corp. (TSE:CIX) have received a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$27.94.

A number of brokerages have recently issued reports on CIX. CIBC boosted their price target on shares of CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. TD Securities downgraded shares of CI Financial from a “buy” rating to a “sell” rating and boosted their price target for the stock from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. Raymond James lowered shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th.

CI Financial Price Performance

Shares of TSE CIX opened at C$31.15 on Friday. The company has a market capitalization of C$4.49 billion, a P/E ratio of -64.94, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. CI Financial has a 52-week low of C$13.87 and a 52-week high of C$31.48. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32. The company’s 50 day moving average price is C$31.21 and its 200-day moving average price is C$26.11.

CI Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. CI Financial’s payout ratio is presently -166.77%.

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.