FY2024 EPS Estimate for IGM Financial Increased by Analyst

IGM Financial Inc. (TSE:IGM) – Investment analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for IGM Financial in a research note issued on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will post earnings of $3.95 per share for the year, up from their prior forecast of $3.93. The consensus estimate for IGM Financial’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for IGM Financial’s Q4 2024 earnings at $1.05 EPS.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share for the quarter, missing the consensus estimate of C$1.03 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. During the same quarter last year, the business earned $0.89 earnings per share.

Other equities analysts have also issued research reports about the company. 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, November 1st. CIBC boosted their price objective on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. Scotiabank increased their target price on shares of IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. BMO Capital Markets boosted their price target on shares of IGM Financial from C$43.00 to C$47.00 in a report on Monday, November 11th. Finally, National Bankshares raised their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$44.55 on Wednesday. IGM Financial has a 52 week low of C$32.95 and a 52 week high of C$47.96. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The stock has a market capitalization of C$10.54 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 4.09 and a beta of 1.53. The firm has a fifty day moving average of C$46.05 and a two-hundred day moving average of C$42.59.

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.