IGM Financial (TSE:IGM) Given New C$45.00 Price Target at Scotiabank

IGM Financial (TSE:IGMGet Rating) had its price target raised by equities researchers at Scotiabank from C$44.00 to C$45.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 9.14% from the company’s previous close.

IGM has been the topic of a number of other reports. CIBC raised their price objective on IGM Financial from C$44.00 to C$50.00 in a research note on Tuesday. National Bankshares reduced their price objective on IGM Financial from C$48.00 to C$45.00 and set an “outperform” rating on the stock in a research note on Thursday, October 6th. Barclays raised their price objective on IGM Financial from C$36.00 to C$38.00 in a research note on Monday. Royal Bank of Canada reduced their price objective on IGM Financial from C$44.00 to C$42.00 in a research note on Monday, October 24th. Finally, TD Securities cut IGM Financial from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$41.00 to C$40.00 in a research note on Monday, November 7th.

IGM Financial Price Performance

IGM traded up C$0.07 during trading on Wednesday, reaching C$41.23. The stock had a trading volume of 35,021 shares, compared to its average volume of 248,012. The stock has a market cap of C$9.80 billion and a PE ratio of 10.88. The company has a debt-to-equity ratio of 37.43, a quick ratio of 0.31 and a current ratio of 2.08. IGM Financial has a one year low of C$33.45 and a one year high of C$46.37. The business has a 50-day moving average of C$39.06 and a 200-day moving average of C$37.33.

IGM Financial (TSE:IGMGet Rating) last released its earnings results on Thursday, November 3rd. The financial services provider reported C$0.91 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.07. The firm had revenue of C$827.30 million during the quarter, compared to the consensus estimate of C$805.00 million. As a group, equities research analysts anticipate that IGM Financial will post 3.5799998 EPS for the current fiscal year.

IGM Financial Company Profile

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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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