CI Financial Corp Given Consensus Rating of “Buy” by Analysts (TSE:CIX)
CI Financial Corp (TSE:CIX) has received a consensus recommendation of “Buy” from the ten brokerages that are covering the stock, AnalystRatingsNetwork.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$39.97.
CIX has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of CI Financial Corp from C$40.00 to C$41.00 in a research note on Monday, June 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Scotiabank reiterated a “sector perform” rating on shares of CI Financial Corp in a research note on Wednesday, June 18th. Finally, analysts at Canaccord Genuity upgraded shares of CI Financial Corp from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. They now have a C$40.00 price target on the stock.
CI Financial Corp (TSE:CIX) traded up 0.03% during mid-day trading on Tuesday, hitting $34.72. The stock had a trading volume of 82,192 shares. CI Financial Corp has a one year low of $30.46 and a one year high of $37.00. The stock’s 50-day moving average is $34.73 and its 200-day moving average is $34.93. The company has a market cap of $9.879 billion and a price-to-earnings ratio of 21.97.
CI Financial Corp (TSE:CIX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.43 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.43. Analysts expect that CI Financial Corp will post $1.89 EPS for the current fiscal year.
The company also recently declared a Monthly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 15th will be given a dividend of $0.10 per share. This represents a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 29th.
CI Financial Corp. (TSE:CIX) is a diversified wealth management and investment fund company.
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