CI Financial Corp reports results for the quarter ended in December - Earnings Summary

CI Financial

23/02/2024 14:31

* CI Financial Corp  CIX.TO  reported quarterly adjusted
earnings
of 81 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 88 cents.  The mean expectation of six analysts for the
quarter was for earnings of 80 cents per share. Wall Street
expected results to range from 78 cents to 82 cents per share.
    * Revenue rose 15.4% to C$715.60 million from a year ago;
analysts
expected C$669.95 million. 
    * CI Financial Corp's reported EPS for the quarter was a
loss
of 40 cents​.
    * The company reported a quarterly loss of C$63.5 million.
    * CI Financial Corp shares had risen by 6.5% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.7%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is  "hold."

Wall Street's median 12-month price target for CI Financial Corp
is C$19.00 
This summary was machine generated from LSEG data February 23 at
02:31 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.80           0.81           Beat
 Sep. 30 2023      0.80           0.81           Beat
 Jun. 30 2023      0.78           0.76           Missed
 Mar. 31 2023      0.78           0.74           Missed