IGM Financial Inc. (TSE:IGM) Receives C$43.71 Consensus Price Target from Analysts

IGM Financial Inc. (TSE:IGM) has received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$43.71.

A number of research analysts have recently commented on IGM shares. Royal Bank of Canada upped their price target on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Jefferies Financial Group upped their price target on IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Scotiabank upped their price target on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. BMO Capital Markets cut their price target on IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Finally, National Bankshares boosted their price objective on IGM Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Monday, July 29th.

IGM Financial Stock Up 0.8 %

IGM opened at C$41.99 on Thursday. The business has a 50 day moving average price of C$39.37 and a 200 day moving average price of C$37.62. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$42.20. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The firm has a market cap of C$9.94 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The business had revenue of C$816.31 million for the quarter, compared to analyst estimates of C$826.00 million. Research analysts forecast that IGM Financial will post 4.006816 EPS for the current year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Friday, September 27th. IGM Financial’s dividend payout ratio is presently 63.38%.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.