CI Financial (TSE:CIX) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Shares of CI Financial Corp. (TSE:CIX - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$26.74 and traded as high as C$31.32. CI Financial shares last traded at C$31.28, with a volume of 384,534 shares.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut CI Financial from a "moderate buy" rating to a "strong sell" rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$27.94.

CI Financial Price Performance

The stock has a market capitalization of C$4.50 billion, a P/E ratio of -65.08, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The business has a fifty day simple moving average of C$31.25 and a 200 day simple moving average of C$27.10. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Monday, March 31st. CI Financial's payout ratio is currently -166.77%.

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.