CI Financial Corp. (NYSE:CIXXF - Free Report) - Equities researchers at Raymond James raised their FY2024 earnings per share estimates for CI Financial in a report released on Sunday, May 12th. Raymond James analyst S. Boland now forecasts that the company will post earnings per share of $2.83 for the year, up from their prior estimate of $2.77. Raymond James has a "Moderate Buy" rating on the stock. The consensus estimate for CI Financial's current full-year earnings is $2.77 per share.
CI Financial (NYSE:CIXXF - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $525.68 million during the quarter, compared to the consensus estimate of $486.16 million. CI Financial had a negative net margin of 6.49% and a positive return on equity of 42.97%.
Separately, Keefe, Bruyette & Woods lowered CI Financial from a "moderate buy" rating to a "hold" rating in a report on Monday.
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CI Financial Stock Performance
Shares of NYSE CIXXF traded up $0.10 during trading hours on Wednesday, reaching $10.70. The stock had a trading volume of 21,319 shares, compared to its average volume of 17,742. The firm has a 50-day moving average of $12.26 and a 200-day moving average of $11.55. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 4.51 and a beta of 1.43. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.23. CI Financial has a fifty-two week low of $9.04 and a fifty-two week high of $13.11.
CI Financial Cuts Dividend
The business also recently disclosed a dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.1454 per share. The ex-dividend date was Wednesday, March 27th. This represents a dividend yield of 4.55%. CI Financial's dividend payout ratio is currently -67.05%.
About CI Financial
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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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