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CI Financial Corp OR Up 2.53% To $11.75 After Earnings

Thursday, August 11, 2022 02:56 PM | InvestorsObserver Analysts
CI Financial Corp OR Up 2.53% To $11.75 After Earnings

CI Financial Corp OR (CIXX) said before open Thursday that it earned $0.61 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods. The company reported $444 million in revenue

In the same quarter a year ago, the company earned $0.74 per share on revenue of $539.1 million.

The stock is up 2.53% to $11.75 after the report.

CI Financial Corp OR's revenues declined at a faster pace than earnings.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned CI Financial Corp OR a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Buy.

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 129.2 billion in fund assets under management, and another CAD 221.5 billion in assets under advisement, at the end of April 2022, making it one of the largest nonbank affiliated asset managers in Canada. The company operates primarily through CI Global Asset Management, which offers a broad selection of investment funds. On the wealth management side, the company operates through CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, as well as a growing group of acquired U.S.-based advisors, providing financial advice primarily to high-net-worth individuals and families.

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