Raymond James Weighs in on CI Financial Corp.'s FY2024 Earnings (TSE:CIX)

CI Financial Corp. (TSE:CIX - Free Report) - Stock analysts at Raymond James increased their FY2024 earnings estimates for CI Financial in a research note issued on Sunday, May 12th. Raymond James analyst S. Boland now forecasts that the company will earn $3.88 per share for the year, up from their previous estimate of $3.73. Raymond James currently has a "Outperform" rating and a $21.00 price target on the stock. The consensus estimate for CI Financial's current full-year earnings is $3.65 per share.

CI Financial (TSE:CIX - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported C$0.81 EPS for the quarter, beating the consensus estimate of C$0.73 by C$0.08. CI Financial had a net margin of 0.16% and a return on equity of 0.29%. The business had revenue of C$715.60 million for the quarter, compared to the consensus estimate of C$656.72 million.

Several other research firms have also recently weighed in on CIX. TD Securities raised shares of CI Financial from a "buy" rating to an "action list buy" rating and upped their price objective for the stock from C$21.00 to C$23.00 in a research report on Monday, February 26th. BMO Capital Markets cut their price objective on shares of CI Financial from C$19.00 to C$17.00 and set an "outperform" rating for the company in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on shares of CI Financial from C$22.00 to C$21.00 and set a "sector perform" rating for the company in a research report on Monday. Scotiabank upped their price objective on shares of CI Financial from C$20.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada cut their price objective on shares of CI Financial from C$20.00 to C$18.00 and set a "sector perform" rating for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$19.56.

CI Financial Stock Performance

Shares of CIX stock traded down C$0.05 on Wednesday, hitting C$14.56. The company's stock had a trading volume of 561,003 shares, compared to its average volume of 395,224. The company has a debt-to-equity ratio of 151.13, a quick ratio of 0.17 and a current ratio of 0.47. The stock's 50 day moving average is C$16.61 and its 200-day moving average is C$15.62. CI Financial has a fifty-two week low of C$12.17 and a fifty-two week high of C$17.73. The company has a market capitalization of C$2.20 billion, a PE ratio of 41.60, a PEG ratio of 0.96 and a beta of 1.63.

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.