IGM Financial Inc. (TSE:IGM) Given Average Rating of “Moderate Buy” by Analysts

IGM Financial Inc. (TSE:IGM) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$44.00.

Several brokerages have recently commented on IGM. TD Securities upped their price target on IGM Financial from C$42.00 to C$43.00 and gave the company a “buy” rating in a research note on Monday, May 6th. CIBC increased their target price on shares of IGM Financial from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Scotiabank lifted their price target on shares of IGM Financial from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th. BMO Capital Markets upped their price objective on shares of IGM Financial from C$39.00 to C$40.00 in a report on Monday, May 6th. Finally, Royal Bank of Canada lifted their target price on shares of IGM Financial from C$44.00 to C$45.00 in a report on Friday, May 3rd.

IGM Financial Trading Down 0.6 %

Shares of IGM opened at C$37.77 on Tuesday. IGM Financial has a 52-week low of C$30.34 and a 52-week high of C$42.02. The stock has a market cap of C$8.97 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 4.04 and a beta of 1.55. The firm’s fifty day moving average is C$36.78 and its two-hundred day moving average is C$35.77. The company has a quick ratio of 0.31, a current ratio of 2.15 and a debt-to-equity ratio of 37.00.

IGM Financial (TSE:IGM) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.91 by C$0.03. The company had revenue of C$811.67 million during the quarter, compared to the consensus estimate of C$796.65 million. IGM Financial had a net margin of 27.67% and a return on equity of 11.63%. Research analysts forecast that IGM Financial will post 3.8664564 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.563 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.25 annualized dividend and a dividend yield of 5.96%. IGM Financial’s dividend payout ratio (DPR) is 69.66%.

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.