CI Financial (NYSE:CIXXF) Shares Gap Up to $10.57

CI Financial Corp. (NYSE:CIXXF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $10.57, but opened at $10.93. CI Financial shares last traded at $10.93, with a volume of 729 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CIXXF. Raymond James upgraded CI Financial from a “hold” rating to a “moderate buy” rating in a research report on Sunday, May 12th. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, May 13th.

CI Financial Trading Down 0.7 %

The company’s fifty day simple moving average is $10.89 and its two-hundred day simple moving average is $11.62. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 4.54 and a beta of 1.35. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.86.

CI Financial (NYSE:CIXXF) last released its quarterly earnings results on Friday, May 10th. The company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. CI Financial had a positive return on equity of 46.20% and a negative net margin of 6.49%. The company had revenue of $478.96 million for the quarter, compared to analyst estimates of $510.79 million. Research analysts forecast that CI Financial Corp. will post 2.75 earnings per share for the current fiscal year.

CI Financial Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.1481 dividend. This represents a yield of 5.76%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from CI Financial’s previous dividend of $0.15. CI Financial’s dividend payout ratio (DPR) is currently -65.91%.

About CI Financial

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.