National Bankshares Raises IGM Financial (TSE:IGM) Price Target to C$50.00

IGM Financial (TSE:IGM) had its price objective boosted by investment analysts at National Bankshares from C$47.00 to C$50.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ price objective indicates a potential upside of 19.53% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on IGM. Jefferies Financial Group upped their price target on IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Scotiabank upped their target price on shares of IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. BMO Capital Markets cut their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their target price on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.14.

IGM Financial Stock Performance

Shares of IGM stock opened at C$41.83 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The company has a market cap of C$9.90 billion, a PE ratio of 11.85, a P/E/G ratio of 4.09 and a beta of 1.53. The company’s fifty day simple moving average is C$40.33 and its 200-day simple moving average is C$38.18. IGM Financial has a 52 week low of C$30.92 and a 52 week high of C$43.07.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The company had revenue of C$816.31 million during the quarter, compared to analyst estimates of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. As a group, equities research analysts anticipate that IGM Financial will post 4.006816 EPS for the current year.

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.