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

IGM Financial Inc. (TSE:IGM) has earned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$45.00.

Several analysts have weighed in on IGM shares. Royal Bank of Canada raised their price target on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. BMO Capital Markets dropped their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Scotiabank increased their price target on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. National Bankshares lifted their price objective on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday.

IGM Financial Price Performance

IGM stock opened at C$42.25 on Monday. The firm has a 50 day moving average of C$40.48 and a 200-day moving average of C$38.26. 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 firm has a market capitalization of C$10.00 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. IGM Financial has a 12 month low of C$31.89 and a 12 month high of C$43.07.

IGM Financial (TSE:IGM) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). The firm had revenue of C$816.31 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st were given a dividend of $0.563 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.25 annualized dividend and a yield of 5.33%. IGM Financial’s payout ratio is 63.38%.

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.