IGM Financial Inc. (TSE:IGM) Receives C$42.17 Average Price Target from Analysts

IGM Financial Inc. (TSE:IGM) has earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$42.17.

IGM has been the subject of a number of research analyst reports. TD Securities raised their price target on shares of IGM Financial from C$39.00 to C$41.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. National Bankshares raised their target price on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Royal Bank of Canada raised their target price on shares of IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a report on Friday, February 16th. Finally, Scotiabank raised their target price on shares of IGM Financial from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st.

IGM Financial Trading Down 0.3 %

TSE IGM opened at C$34.04 on Thursday. The company has a fifty day simple moving average of C$34.86 and a two-hundred day simple moving average of C$34.49. The stock has a market cap of C$8.11 billion, a P/E ratio of 8.77, a P/E/G ratio of 4.24 and a beta of 1.58. IGM Financial has a 12-month low of C$30.34 and a 12-month high of C$42.02. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26.

IGM Financial (TSE:IGM) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). The company had revenue of C$768.80 million during the quarter, compared to analysts’ expectations of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. On average, analysts forecast that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.563 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.25 dividend on an annualized basis and a yield of 6.62%. IGM Financial’s payout ratio is 57.99%.

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.