IGM Financial (TSE:IGM) Stock Crosses Above 200-Day Moving Average of $34.87

Shares of IGM Financial Inc. (TSE:IGMGet Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$34.87 and traded as high as C$35.55. IGM Financial shares last traded at C$35.06, with a volume of 188,062 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of 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 lifted their target price on shares of IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Monday, February 5th. TD Securities lifted their target price on shares of IGM Financial from C$39.00 to C$41.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Scotiabank lifted their target price on shares of IGM Financial from C$40.00 to C$44.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, IGM Financial has an average rating of “Moderate Buy” and an average price target of C$42.17.

Check Out Our Latest Stock Report on IGM

IGM Financial Trading Down 1.0 %

The company’s 50 day simple moving average is C$35.67 and its 200 day simple moving average is C$34.84. The firm has a market cap of C$8.35 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 4.24 and a beta of 1.58. The company has a debt-to-equity ratio of 38.26, a current ratio of 1.94 and a quick ratio of 0.31.

IGM Financial (TSE:IGMGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The business had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. As a group, research analysts expect that IGM Financial Inc. will post 3.7088204 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.563 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.25 annualized dividend and a dividend yield of 6.42%. IGM Financial’s dividend payout ratio (DPR) is currently 57.99%.

IGM Financial Company Profile

(Get Free Report)

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.

Further Reading

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