IGM Financial Inc. (TSE:IGM) Receives C$49.29 Consensus Target Price from Brokerages

IGM Financial Inc. (TSE:IGMGet Free Report) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$49.29.

A number of equities research analysts recently issued reports on IGM shares. Jefferies Financial Group increased their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets lifted their price objective on IGM Financial from C$43.00 to C$47.00 in a research report on Monday, November 11th. TD Securities raised their target price on IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. Scotiabank lifted their price target on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Finally, CIBC boosted their target price on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th.

Get Our Latest Analysis on IGM

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$46.02 on Friday. The company has a market cap of C$10.89 billion, a P/E ratio of 12.96, a PEG ratio of 4.09 and a beta of 1.53. IGM Financial has a 1-year low of C$32.95 and a 1-year high of C$47.96. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The business has a 50-day moving average price of C$46.21 and a two-hundred day moving average price of C$42.16.

IGM Financial (TSE:IGMGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted $0.89 EPS. As a group, analysts anticipate that IGM Financial will post 4.006816 EPS for the current year.

IGM Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s payout ratio is presently 63.38%.

IGM Financial Company Profile

(Get Free Report

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.

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Analyst Recommendations for IGM Financial (TSE:IGM)

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