CI Financial (NYSE:CIXXF) Shares Gap Down - What's Next?

On Thursday, shares of CI Financial Corp. (NYSE:CIXXF) experienced a significant decline before the market opened. The stock had previously closed at $22.03 but started trading at $20.96. At the last check, CI Financial shares were still trading at $20.96, with a volume of 222 shares exchanged.

Wall Street Analyst Insights

CI Financial has garnered attention from several research firms recently. On November 27th, TD Securities downgraded the stock from a “strong-buy” rating to a “strong sell.” This was followed by Raymond James, which also reduced its rating from “moderate buy” to “strong sell” on January 23rd. Furthermore, Keefe, Bruyette & Woods shifted their stance, lowering their rating from “moderate buy” to “hold” on November 25th.

CI Financial's Stock Performance Metrics

The company shows a 50-day moving average of $21.61 and a two-hundred-day moving average of $17.53. With a market capitalization of $3.19 billion, CI Financial has a price-to-earnings (PE) ratio of -66.94. Its beta stands at 1.42, indicating some volatility in its stock performance. The company's debt-to-equity ratio is notably high at 4.53, and it exhibits a current ratio and quick ratio of 0.32 each.

Recent Dividend Announcement

In recent news, CI Financial announced a dividend that was paid out on January 15th. Shareholders who were on the record as of January 1st received a dividend of $0.1457. The ex-dividend date for this payment was December 31st, and this dividend represents a yield of 2.71%. However, it’s worth noting that CI Financial's current dividend payout ratio is -169.69%, which raises concerns about sustainability.

Understanding CI Financial

CI Financial Corp. is an asset management holding company that operates publicly. The firm, through its various subsidiaries, manages a range of investment portfolios, including equity, fixed income, and alternative investments. CI Financial also manages mutual funds, hedge funds, and funds of funds for its clients.

More Information for Investors

The current situation around CI Financial raises questions for investors considering their next steps. Analysts continue to express caution, and it may be worthwhile to explore other investment options. Currently, CI Financial has a “Sell” rating among analysts, while other stocks have been recommended as more promising opportunities.

CI Financial, stocks, dividend