IGM Financial Inc. (TSE:IGM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

IGM Financial Inc. (TSE:IGM) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$42.17.

A number of equities research analysts recently commented on the stock. TD Securities increased 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 research report on Tuesday, February 20th. Scotiabank raised their price objective on IGM Financial from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. National Bankshares upped their target price on IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada raised their price target on 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.

IGM Financial Stock Performance

Shares of IGM stock opened at C$33.88 on Thursday. The firm has a market cap of C$8.07 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 4.24 and a beta of 1.58. IGM Financial has a 52-week low of C$30.34 and a 52-week high of C$42.02. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. The company’s 50 day moving average is C$34.88 and its 200 day moving average is C$34.49.

IGM Financial (TSE:IGM) last announced 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 net margin of 31.03% and a return on equity of 14.46%. On average, sell-side analysts anticipate that IGM Financial will post 3.711039 EPS for the current fiscal year.

IGM Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Wednesday, March 27th. IGM Financial’s dividend payout ratio (DPR) is currently 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.