IGM Financial (TSE:IGM) Price Target Raised to C$40.00 at BMO Capital Markets

IGM Financial (TSE:IGM) had its price objective hoisted by BMO Capital Markets from C$39.00 to C$40.00 in a research report released on Monday, BayStreet.CA reports.

Several other analysts have also recently weighed in on the stock. Scotiabank raised their price objective on shares of IGM Financial from C$44.00 to C$45.00 and gave the company a sector perform rating in a research report on Tuesday, April 30th. CIBC lifted their price target on shares of IGM Financial from C$42.00 to C$45.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research report on Friday, May 3rd. National Bankshares upped their price target on shares of IGM Financial from C$44.00 to C$46.00 and gave the company an outperform rating in a research report on Monday, February 5th. Finally, TD Securities raised their price objective on IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, IGM Financial presently has a consensus rating of Moderate Buy and an average price target of C$44.00.

IGM Financial Stock Down 0.2 %

IGM opened at C$38.35 on Monday. The company’s 50-day moving average price is C$34.95 and its two-hundred day moving average price is C$34.70. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$42.02. The stock has a market cap of C$9.13 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The firm had revenue of C$768.80 million for the quarter, compared to the consensus estimate of C$773.00 million. IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. As a group, equities analysts expect that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.563 per share. The ex-dividend date is Friday, June 28th. This represents a $2.25 annualized dividend and a dividend yield of 5.87%. IGM Financial’s dividend payout ratio (DPR) is presently 57.99%.

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.