Scotiabank Boosts IGM Financial (TSE:IGM) Price Target to C$45.00

IGM Financial (TSE:IGM) had its price objective raised by investment analysts at Scotiabank from C$44.00 to C$45.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 30.32% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their price target on IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a report on Friday, February 16th. National Bankshares boosted their price target on IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, TD Securities upped their price objective on IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, IGM Financial presently has a consensus rating of “Moderate Buy” and an average target price of C$42.50.

IGM Financial Stock Performance

Shares of TSE IGM traded up C$0.14 during trading on Tuesday, reaching C$34.53. The stock had a trading volume of 91,910 shares, compared to its average volume of 243,256. IGM Financial has a one year low of C$30.34 and a one year high of C$42.02. The company has a debt-to-equity ratio of 38.26, a quick ratio of 0.31 and a current ratio of 1.94. The stock has a market cap of C$8.22 billion, a PE ratio of 8.89, a P/E/G ratio of 4.24 and a beta of 1.58. The firm’s 50 day moving average price is C$34.74 and its two-hundred day moving average price is C$34.49.

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

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.