IGM Financial (IGM) Set to Announce Quarterly Earnings on Thursday

IGM Financial (TSE:IGM) is set to release its earnings data after the market closes on Thursday, May 2nd.

IGM Financial (TSE:IGM) last posted its 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 for 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%.

IGM Financial Stock Performance

TSE IGM opened at C$34.04 on Thursday. The firm has a 50-day moving average of C$34.86 and a 200-day moving average of C$34.49. 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$8.11 billion, a PE ratio of 8.77, a P/E/G 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.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Wednesday, March 27th. IGM Financial’s dividend payout ratio is presently 57.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IGM. TD Securities raised their target price on shares of IGM Financial from C$39.00 to C$41.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their target price on shares of IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Scotiabank raised their price target on shares of 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. Finally, National Bankshares raised their price target on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$42.17.

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.