Analysts Set IGM Financial Inc. (TSE:IGM) PT at C$43.71

Shares of IGM Financial Inc. (TSE:IGM) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$43.71.

IGM has been the subject of a number of research reports. Royal Bank of Canada increased their price objective on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Scotiabank lifted their price target on shares of IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets lowered their target price on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Finally, 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 research note on Monday, July 29th.

IGM Financial Trading Up 0.8 %

IGM opened at C$41.73 on Thursday. IGM Financial has a one year low of C$30.34 and a one year high of C$41.99. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The business has a 50 day simple moving average of C$39.21 and a two-hundred day simple moving average of C$37.52. The firm has a market capitalization of C$9.88 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 4.09 and a beta of 1.53.

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

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st will be paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend is Friday, September 27th. IGM Financial’s payout ratio is 63.38%.

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.