CI Financial (TSE:CIX) Given New C$20.00 Price Target at Desjardins

CI Financial (TSE:CIX) had its price target cut by Desjardins from C$21.00 to C$20.00 in a report issued on Monday, February 4th. Desjardins also issued estimates for CI Financial’s FY2020 earnings at $2.45 EPS.

A number of other research analysts also recently weighed in on the company. Canaccord Genuity lowered their price target on CI Financial from C$24.00 to C$22.00 in a report on Wednesday, January 30th. Barclays lowered their price target on CI Financial from C$21.00 to C$19.00 in a report on Monday, January 21st. Royal Bank of Canada lowered their target price on CI Financial from C$20.00 to C$17.00 in a research note on Tuesday, January 15th. CIBC lowered their target price on CI Financial from C$22.00 to C$21.00 in a research note on Monday, January 14th. Finally, TD Securities boosted their target price on CI Financial from C$20.00 to C$21.00 and gave the company a hold rating in a research note on Friday, November 9th.

Shares of CIX traded up C$0.23 during midday trading on Monday, reaching C$18.83. The stock had a trading volume of 507,400 shares, compared to its average volume of 591,389. The company has a market capitalization of $4.58 billion and a PE ratio of 7.91. The company has a debt-to-equity ratio of 104.94, a quick ratio of 0.57 and a current ratio of 1.03. CI Financial has a 52 week low of C$16.47 and a 52 week high of C$28.95.

CI Financial (TSE:CIX) last announced its earnings results on Friday, February 8th. The company reported C$0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.57. The company had revenue of C$529.20 million for the quarter. On average, equities research analysts forecast that CI Financial will post 2.44999997705993 EPS for the current fiscal year.

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.

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