CI Financial (NYSE:CIXXF) Shares Gap Down – Time to Sell?

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading 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 Trading Up 1.1 %

The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 6.59 and a beta of 1.31. 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 company’s 50 day simple moving average is $14.37 and its 200 day simple moving average is $12.39.

CI Financial (NYSE:CIXXF) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.66 earnings per share for the quarter. The company had revenue of $720.62 million for the quarter. CI Financial had a positive return on equity of 50.83% and a negative net margin of 1.90%. As a group, research analysts expect that CI Financial Corp. will post 2.65 earnings per share for the current fiscal 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 dividend of $0.1471 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 4.37%. CI Financial’s payout ratio is -235.99%.

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.