Desjardins Trims CI Financial (CIX) Target Price to C$20.00

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

A number of other equities analysts have also issued reports on CIX. Canaccord Genuity lowered their price target on CI Financial from C$24.00 to C$22.00 in a report on Wednesday, January 30th. CIBC raised their price target on CI Financial from C$21.00 to C$22.00 in a report on Friday, November 9th. TD Securities raised their price target on CI Financial from C$20.00 to C$21.00 and gave the stock a hold rating in a report on Friday, November 9th. Barclays lowered their price objective on CI Financial from C$24.00 to C$21.00 in a report on Friday, October 26th. Finally, Royal Bank of Canada lifted their price objective on CI Financial from C$19.00 to C$20.00 and gave the company an underperform rating in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average target price of C$21.75.

TSE CIX opened at C$18.30 on Monday. The company has a debt-to-equity ratio of 100.21, a quick ratio of 0.48 and a current ratio of 0.81. CI Financial has a 52-week low of C$16.47 and a 52-week high of C$29.11. The stock has a market cap of $4.39 billion and a P/E ratio of 8.60.

CI Financial (TSE:CIX) last released its quarterly earnings results on Thursday, November 8th. The company reported C$0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.60 by C$0.02. The company had revenue of C$569.00 million for the quarter. Analysts predict that CI Financial will post 2.30999981761791 earnings per share 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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