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

CI Financial

08/08/2024 17:31

* CI Financial Corp  CIX.TO  reported quarterly adjusted
earnings
of 90 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported EPS
of 76 cents.  The mean expectation of eight analysts for the
quarter was for earnings of 86 cents per share. Wall Street
expected results to range from 82 cents to 89 cents per share.
    * Revenue rose 27% to C$985.96 million from a year ago;
analysts
expected C$724.52 million. 
    * CI Financial Corp's reported EPS for the quarter was
$1.15​.
    * The company reported quarterly net income of $176.42
million.
    * CI Financial Corp shares had risen by 11.1% this
quarter and
gained 7.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.2%
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 4 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is also "buy"

Wall Street's median 12-month price target for CI Financial Corp
is C$20.00 
This summary was machine generated from LSEG data August 8 at
04:31 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
 Jun. 30 2024      0.86           0.90           Beat
 Mar. 31 2024      0.86           0.86           Met
 Dec. 31 2023      0.80           0.81           Beat
 Sep. 30 2023      0.80           0.81           Beat