CI Financial (NYSE:CIXX – Get Rating) will be announcing its earnings results before the market opens on Thursday, August 11th.
CI Financial (NYSE:CIXX – Get Rating) last released its earnings results on Thursday, May 12th. The company reported $0.67 earnings per share (EPS) for the quarter. CI Financial had a net margin of 15.56% and a return on equity of 40.37%. The firm had revenue of $500.33 million during the quarter. On average, analysts expect CI Financial to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
CI Financial Price Performance
CIXX stock opened at $11.48 on Thursday. The firm has a 50 day moving average price of $11.30 and a 200-day moving average price of $14.14. CI Financial has a 52-week low of $9.92 and a 52-week high of $24.52. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.59 and a beta of 1.35. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.65 and a current ratio of 0.65.
CI Financial Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.1391 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.56 dividend on an annualized basis and a yield of 4.85%. CI Financial’s payout ratio is currently 33.93%.
Institutional Investors Weigh In On CI Financial
Ad Oxford Club
Most profitable less than $5 stock in the world?
This virtually unknown stock trades under a secret name, brings in more cash than IBM, Facebook and Tesla, and trades for just under $5.
Find out why in this “leaked” footage from a former Wall Street money manager.
A number of hedge funds have recently added to or reduced their stakes in CIXX. Power Corp of Canada purchased a new stake in CI Financial during the 1st quarter valued at $29,000. Prudential PLC bought a new stake in shares of CI Financial during the 1st quarter valued at $312,000. Great West Life Assurance Co. Can grew its position in shares of CI Financial by 11.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,361 shares of the company’s stock valued at $409,000 after acquiring an additional 2,519 shares during the period. UBS Group AG grew its position in shares of CI Financial by 64.6% during the 1st quarter. UBS Group AG now owns 108,407 shares of the company’s stock valued at $1,724,000 after acquiring an additional 42,530 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of CI Financial by 28.0% during the 1st quarter. Bank of New York Mellon Corp now owns 112,132 shares of the company’s stock valued at $1,782,000 after acquiring an additional 24,506 shares during the period. 43.66% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CIXX has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered shares of CI Financial from an “outperform” rating to a “sector perform” rating in a report on Monday, May 16th. TD Securities decreased their price objective on shares of CI Financial from C$19.00 to C$16.00 in a report on Friday, May 13th. Canaccord Genuity Group decreased their price objective on shares of CI Financial from C$23.50 to C$19.50 in a report on Thursday, July 28th. Scotiabank decreased their price objective on shares of CI Financial from C$21.00 to C$18.00 in a report on Tuesday, July 26th. Finally, CIBC decreased their price objective on shares of CI Financial from C$28.00 to C$23.00 in a report on Monday, May 16th. Two research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $22.93.
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should you invest $1,000 in CI Financial right now?
Before you consider CI Financial, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and CI Financial wasn’t on the list.
While CI Financial currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
