CI Financial (NYSE:CIXXF) Shares Gap Up to $10.70

CI Financial Corp. (NYSE:CIXXF - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $10.70, but opened at $11.31. CI Financial shares last traded at $10.64, with a volume of 4,011 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CIXXF. Raymond James raised CI Financial from a "hold" rating to a "moderate buy" rating in a research report on Sunday. Keefe, Bruyette & Woods cut CI Financial from a "moderate buy" rating to a "hold" rating in a research note on Monday.

CI Financial Stock Performance

The business's 50-day moving average is $12.22 and its 200 day moving average is $11.54. The company has a market cap of $1.66 billion, a PE ratio of -12.09 and a beta of 1.43. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.33 and a current ratio of 0.33.

CI Financial (NYSE:CIXXF - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.06. CI Financial had a negative net margin of 6.49% and a positive return on equity of 42.97%. The company had revenue of $525.68 million during the quarter, compared to analyst estimates of $486.16 million. On average, equities research analysts predict that CI Financial Corp. will post 2.77 EPS for the current fiscal year.

CI Financial Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.1454 dividend. This represents a dividend yield of 4.55%. The ex-dividend date of this dividend was Wednesday, March 27th. CI Financial's dividend payout ratio is presently -67.05%.

CI Financial Company Profile

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.