IGM Financial (TSE:IGM) Price Target Raised to C$44.00 at BMO Capital Markets


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IGM Financial (TSE:IGM) had its price objective raised by equities research analysts at BMO Capital Markets to C$44.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would suggest a potential downside of 1.37% from the company’s previous close.

Several other research firms have also issued reports on IGM. National Bankshares set a C$51.00 target price on IGM Financial and gave the stock an “outperform” rating in a research report on Friday. Desjardins cut IGM Financial from a “buy” rating to a “hold” rating in a report on Friday, February 12th. Canaccord Genuity lifted their price objective on IGM Financial from C$39.50 to C$44.00 and gave the company a “strong-buy” rating in a report on Friday, March 26th. CIBC reiterated an “outperform” rating and set a C$45.00 price objective on shares of IGM Financial in a report on Monday. Finally, Scotiabank lifted their price objective on IGM Financial from C$42.00 to C$46.00 in a report on Monday. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of C$45.29.

Shares of TSE IGM traded down C$0.25 during trading hours on Tuesday, hitting C$44.61. The stock had a trading volume of 212,810 shares, compared to its average volume of 334,455. The company has a market capitalization of C$10.63 billion and a P/E ratio of 13.91. The firm’s 50-day moving average price is C$40.05 and its two-hundred day moving average price is C$35.88. IGM Financial has a 52 week low of C$26.61 and a 52 week high of C$45.12. The company has a debt-to-equity ratio of 45.41, a quick ratio of 0.39 and a current ratio of 2.61.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 11th. The financial services provider reported C$0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.91 by C($0.05). The company had revenue of C$812.81 million during the quarter. As a group, analysts expect that IGM Financial will post 4.0400001 EPS for the current fiscal year.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program; IG Wealth Management Advisor Portal, a customer relationship management platform; and IG Wealth Management's dealer platform, which provides increased automation and supports both MFDA and IIROC licensed advisors, as well as new products on its investment dealer platform.

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