CI Financial Corp reports results for the quarter ended September 30 - Earnings Summary

CI Financial

14/11/2024 21:00

* CI Financial Corp  CIX.TO  reported quarterly adjusted
earnings
of 97 cents​​ per share for the quarter ended September 30,
higher than the same quarter last year, when the company
reported EPS of 81 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 89 cents per
share. Wall Street expected results to range from 87 cents to 92
cents per share.
    * Revenue rose 27.4% to $785.40 million from a year ago;
analysts
expected C$747.30 million. 
    * CI Financial Corp's reported EPS for the quarter was a
loss
of 19 cents​.
    * The company reported a quarterly loss of $27.6 million.
    * CI Financial Corp shares had risen by 28.4% this
quarter and
gained 59.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"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 26.00 
This summary was machine generated from LSEG data November 14 at
08:59 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
 Sep. 30 2024      0.89           0.97           Beat
 Jun. 30 2024      0.86           0.90           Beat
 Mar. 31 2024      0.86           0.86           Met
 Dec. 31 2023      0.80           0.81           Beat