CI Financial (NYSE:CIXXF) Shares Gap Down – Here’s What Happened

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down before the market opened on Thursday . The stock had previously closed at $17.06, but opened at $15.29. CI Financial shares last traded at $15.50, with a volume of 7,589 shares changing hands.

CI Financial Stock Up 1.1 %

The company’s fifty day simple moving average is $14.37 and its 200-day simple moving average is $12.39. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $2.54 billion, a PE ratio of 6.59 and a beta of 1.31.

CI Financial (NYSE:CIXXF) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.66 earnings per share (EPS) for the quarter. The firm had revenue of $720.62 million for the quarter. CI Financial had a negative net margin of 1.90% and a positive return on equity of 50.83%. On average, analysts forecast that CI Financial Corp. will post 2.65 EPS for the current year.

CI Financial Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.1471 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a yield of 4.37%. CI Financial’s dividend payout ratio (DPR) is -235.99%.

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.