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

• CI Financial Corp CF7 reported quarterly adjusted earnings of 89 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 90 cents. The mean expectation of two analysts for the quarter was for earnings of 88 cents per share. Wall Street expected results

• Revenue fell 8.8% to C$898.76 million from a year ago.

• CI Financial Corp's reported EPS for the quarter was 97 cents​.

• The company reported quarterly net income of C$141.8 million.

• CI Financial Corp shares had risen by 0.8% this quarter and gained 3.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 12% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 2 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is "buy."

• Wall Street's median 12-month price target for CI Financial Corp is C$32.00, about 0.2% above its last closing price of C$31.94

This summary was machine generated from LSEG data August 6 at 01:31 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)