IGM Financial (TSE:IGM) Price Target Raised to C$40.00 at BMO Capital Markets

IGM Financial (TSE:IGM) had its price objective raised by research analysts at BMO Capital Markets from C$39.00 to C$40.00 in a note issued to investors on Monday, BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential upside of 5.62% from the stock’s current price.

Other analysts have also recently issued reports about the company. Scotiabank boosted their price objective on IGM Financial from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th. TD Securities increased their price objective on IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research report on Friday. CIBC boosted their price target on shares of IGM Financial from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research report on Friday. Finally, National Bankshares raised their target price on IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$44.00.

IGM Financial Stock Performance

IGM traded down C$0.09 during midday trading on Monday, reaching C$37.87. The company’s stock had a trading volume of 105,864 shares, compared to its average volume of 247,781. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$42.02. The stock has a market cap of C$9.02 billion, a P/E ratio of 9.77, a PEG ratio of 4.24 and a beta of 1.58. The company has a fifty day simple moving average of C$34.74 and a 200 day simple moving average of C$34.56. 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 the consensus estimate of C$0.89 by C($0.05). IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. The company had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million. Research analysts expect that IGM Financial will post 3.711039 earnings per share for the current year.

About IGM Financial

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.