Equities Analysts Issue Forecasts for CI Financial Corp’s Q3 2017 Earnings (CIX)
CI Financial Corp (TSE:CIX) – Investment analysts at Desjardins cut their Q3 2017 earnings per share (EPS) estimates for shares of CI Financial Corp in a report issued on Tuesday. Desjardins analyst G. Ho now expects that the company will post earnings of $0.53 per share for the quarter, down from their prior estimate of $0.54. Desjardins also issued estimates for CI Financial Corp’s FY2018 earnings at $2.38 EPS.
CIX has been the subject of several other research reports. CIBC increased their price objective on shares of CI Financial Corp from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, October 3rd. Scotiabank raised their target price on shares of CI Financial Corp from C$28.00 to C$30.00 and gave the stock a “sector perform” rating in a report on Friday, August 11th. BMO Capital Markets restated a “market perform” rating and issued a C$29.00 target price on shares of CI Financial Corp in a report on Monday, September 18th. TD Securities raised their target price on shares of CI Financial Corp from C$28.00 to C$29.00 and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Barclays PLC raised their target price on shares of CI Financial Corp from C$30.00 to C$32.00 in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. CI Financial Corp presently has an average rating of “Hold” and a consensus price target of C$30.00.
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CI Financial Corp (TSE:CIX) opened at 28.68 on Wednesday. The stock has a market cap of $7.40 billion and a PE ratio of 15.60. The company has a 50-day moving average of $27.78 and a 200-day moving average of $27.24. CI Financial Corp has a 12 month low of $23.52 and a 12 month high of $29.94.
The company also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.1175 dividend. This represents a $1.41 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Monday, October 30th. This is a positive change from CI Financial Corp’s previous monthly dividend of $0.12.
In other news, insider Douglas J.R. Jamieson bought 1,000 shares of the stock in a transaction dated Tuesday, October 17th. The stock was purchased at an average price of C$28.00 per share, for a total transaction of C$28,000.00. Also, Director Roy Ratnavel bought 10,000 shares of the stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of C$26.76 per share, with a total value of C$267,600.00. Insiders bought a total of 26,000 shares of company stock valued at $698,500 in the last 90 days.
CI Financial Corp Company Profile
CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.
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