CI Financial (TSE:CIX) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

CI Financial Corp. (TSE:CIX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.44 and traded as high as C$21.52. CI Financial shares last traded at C$21.21, with a volume of 304,255 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on CIX. Jefferies Financial Group upped their price objective on shares of CI Financial from C$19.00 to C$20.00 in a research note on Monday, July 29th. TD Securities decreased their price objective on shares of CI Financial from C$21.00 to C$20.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CI Financial has a consensus rating of “Moderate Buy” and an average target price of C$19.38.

CI Financial Stock Up 1.7 %

The business’s fifty day moving average price is C$18.23 and its 200 day moving average price is C$16.50. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47. The firm has a market capitalization of C$3.06 billion, a PE ratio of -79.63, a PEG ratio of 0.04 and a beta of 1.67.

CI Financial (TSE:CIX) last announced its earnings results on Thursday, August 8th. The company reported C$0.90 EPS for the quarter. The business had revenue of C$985.96 million during the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. On average, equities research analysts forecast that CI Financial Corp. will post 4.010142 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.