CI Financial (NYSE:CIXXF) Shares Gap Down to $9.42

CI Financial Corp. (NYSE:CIXXF – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $9.42, but opened at $9.15. CI Financial shares last traded at $9.42, with a volume of 3,606 shares trading hands.

Analysts Set New Price Targets

CIXXF has been the subject of a number of research analyst reports. BMO Capital Markets downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, May 12th. CIBC downgraded shares of CI Financial from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 16th. Finally, Barclays downgraded shares of CI Financial from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 12th.

CI Financial Stock Performance

The firm has a market cap of $1.78 billion, a P/E ratio of 4.17, a PEG ratio of 0.45 and a beta of 1.26. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.56 and a quick ratio of 0.56. The company’s 50 day moving average is $9.48.

CI Financial (NYSE:CIXXF – Get Rating) last released its quarterly earnings data on Friday, February 24th. The company reported $0.54 EPS for the quarter. The firm had revenue of $456.93 million during the quarter. CI Financial had a net margin of 8.43% and a return on equity of 32.55%. On average, equities analysts forecast that CI Financial Corp. will post 2.6 earnings per share for the current fiscal year.

CI Financial Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were issued a $0.18 dividend. This represents a yield of 4.73%. The ex-dividend date of this dividend was Thursday, March 30th. CI Financial’s dividend payout ratio is presently 68.83%.

CI Financial Company Profile

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CI Financial Corp. is an independent company offering global asset management and wealth management advisory services. It operates through the following business segments: Asset Management and Wealth Management. The Asset Management segment provides the majority of CI’s income and derives its revenue principally from the fees earned on the management of investment funds and other fee-earning investment products.