Yahoo Finance CI Financial Corp. (CIXXF) Gains But Lags Market: What You Should Know
In the latest trading session, CI Financial Corp. (CIXXF) closed at $12.15, marking a +1.09% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 1.2% for the day. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.59%.
The company's shares have seen a decrease of 5.65% over the last month, surpassing the Finance sector's loss of 5.68% and falling behind the S&P 500's loss of 4.16%.
Investors will be eagerly watching for the performance of CI Financial Corp. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 10, 2024. In that report, analysts expect CI Financial Corp. to post earnings of $0.64 per share. This would mark year-over-year growth of 16.36%. At the same time, our most recent consensus estimate is projecting a revenue of $508.4 million, reflecting a 7.78% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.79 per share and a revenue of $2.08 billion, demonstrating changes of +21.3% and +2.09%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for CI Financial Corp. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.31% upward. CI Financial Corp. currently has a Zacks Rank of #2 (Buy).
Investors should also note CI Financial Corp.'s current valuation metrics, including its Forward P/E ratio of 4.32. This valuation marks a discount compared to its industry's average Forward P/E of 10.32.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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CI Financial Corp. (CIXXF) : Free Stock Analysis Report
