CI Financial (TSE:CIX) Shares Pass 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$16.44 and traded as high as C$21.52. CI Financial shares last traded at C$21.21, with a volume of 304,255 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Securities dropped their target price on CI Financial from C$21.00 to C$20.00 and set a "buy" rating for the company in a report on Wednesday, July 17th. Jefferies Financial Group upped their price target on CI Financial from C$19.00 to C$20.00 in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$19.38.

CI Financial Price Performance

The company has a debt-to-equity ratio of 577.47, a quick ratio of 0.17 and a current ratio of 0.34. The stock has a market cap of C$3.00 billion, a P/E ratio of -78.56, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The firm has a 50-day moving average price of C$18.13 and a 200-day moving average price of C$16.47.

CI Financial (TSE:CIX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.90 earnings per share for the quarter. CI Financial had a negative return on equity of 4.48% and a negative net margin of 1.54%. The company had revenue of C$985.96 million during the quarter. On average, analysts forecast that CI Financial Corp. will post 4.010142 earnings per share for the current fiscal year.

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.