TD Securities Increases IGM Financial (TSE:IGM) Price Target to C$42.00

IGM Financial (TSE:IGM) had its price target upped by analysts at TD Securities from C$41.00 to C$42.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 22.95% from the company’s current price.

A number of other brokerages also recently issued reports on IGM. National Bankshares increased their price target on 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. Royal Bank of Canada increased their price target on IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Finally, Scotiabank increased their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, IGM Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$42.33.

IGM Financial Price Performance

IGM Financial stock opened at C$34.16 on Thursday. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$42.02. The stock’s 50 day moving average is C$34.77 and its 200-day moving average is C$34.48. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. The company has a market capitalization of C$8.13 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last issued 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 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%. Equities research analysts expect that IGM Financial will post 3.711039 EPS 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.