- CI Financial‘s adjusted earnings per share (EPS) for Q3 2024 was C$0.97, beating the estimate of C$0.90 and surpassing last year’s C$0.81.
- The company reported a loss per share of C$0.19 during this period.
- Average assets under management rose by 8.5% year-over-year to C$132.5 billion, slightly below the estimated C$134.31 billion.
- Free cash flow increased by 7.2% year-over-year, reaching C$192.3 million, surpassing the estimate of C$190.6 million.
- Adjusted basic EPS for the quarter was C$0.98, compared to C$0.82 last year.
- CI Financial‘s net revenue jumped by 27% year-over-year to C$785.4 million, exceeding the estimate of C$758 million.
- Total assets under management increased by 14% year-over-year to C$135.40 billion, just below the estimated C$141.38 billion.
- CI Financial‘s strategy has bolstered its position as a leading fee-only private wealth firm in the U.S., experiencing 7.9% quarter-over-quarter growth in adjusted EBITDA.
- The company kept adjusted selling, general, and administrative costs flat relative to the previous quarter, while adjusted net revenues rose by 3.2%.
- Market analysts provided 4 buy recommendations, 3 hold recommendations, and 1 sell recommendation for CI Financial.
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A look at CI Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
CI Financial Corporation, a prominent wealth management firm known for its diverse investment offerings, has seen a promising long-term outlook according to the Smartkarma Smart Scores. With a strong momentum score of 5, CI Financial stands out for its dynamic growth potential and market performance. This high momentum rating indicates a positive trend for the company’s future prospects, suggesting a promising trajectory ahead. While the growth and resilience scores are moderate at 2, the value and dividend scores are at a solid 3, showcasing a balanced market position with potential for value appreciation and income generation.
Specializing in a wide array of investment funds such as mutual funds, industry-specific funds, and hedge funds, CI Financial caters to a diverse range of investors seeking profitable opportunities. Despite moderate growth and resilience scores, the company’s strong momentum score of 5 signifies increasing market confidence and robust performance. This positive outlook, coupled with solid value and dividend scores of 3, positions CI Financial as a promising player in the wealth management sector with potential for sustained growth and shareholder returns in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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