IGM Financial (TSE:IGM) Price Target Lowered to C$43.50 at CIBC

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IGM Financial (TSE:IGM) had its price target decreased by CIBC from C$44.00 to C$43.50 in a research note published on Friday morning, BayStreet.CA reports.

Several other brokerages have also issued reports on IGM. Royal Bank of Canada dropped their price objective on IGM Financial from C$41.00 to C$40.00 and set a sector perform rating on the stock in a report on Monday, May 6th. Canaccord Genuity raised their price objective on IGM Financial from C$34.50 to C$35.00 in a report on Monday, May 6th.

Shares of IGM stock opened at C$35.74 on Friday. The business’s 50-day moving average price is C$37.25. The stock has a market capitalization of $8.60 billion and a price-to-earnings ratio of 11.76. IGM Financial has a 1 year low of C$29.84 and a 1 year high of C$38.69. The company has a debt-to-equity ratio of 50.03, a quick ratio of 0.48 and a current ratio of 4.02.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Friday, May 3rd. The financial services provider reported C$0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.74 by C($0.04). The business had revenue of C$89.08 million during the quarter. On average, research analysts forecast that IGM Financial will post 3.4199998 EPS for the current fiscal year.

IGM Financial Company Profile

IGM Financial Inc, a financial services company, manages and distributes investment funds and other managed asset products in Canada. The company operates through Investors Group, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning tools; mutual funds; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts.

Further Reading: What is a balanced fund?

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