IGM Financial (TSE:IGM) Price Target Raised to C$43.00

IGM Financial (TSE:IGM) had its price objective increased by TD Securities from C$42.00 to C$43.00 in a research report report published on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. National Bankshares upped their price target 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. Royal Bank of Canada increased their target price on IGM Financial from C$44.00 to C$45.00 in a report on Friday, May 3rd. BMO Capital Markets increased their price objective on IGM Financial from C$39.00 to C$40.00 in a research note on Monday. CIBC boosted their target price on shares of IGM Financial from C$42.00 to C$45.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, Scotiabank raised their price target on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, IGM Financial currently has an average rating of Moderate Buy and a consensus price target of C$44.00.

IGM Financial Stock Performance

TSE:IGM opened at C$38.41 on Monday. The firm’s fifty day simple moving average is C$34.90 and its 200-day simple moving average is C$34.68. 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 stock has a market cap of C$9.15 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$42.02.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The firm had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. Analysts expect that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.563 per share. The ex-dividend date is Friday, June 28th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.86%. IGM Financial’s payout ratio is 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.