IGM Financial Inc. (TSE:IGM) Receives C$43.71 Consensus PT from Analysts

IGM Financial Inc. (TSE:IGM) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$43.71.

IGM has been the subject of several analyst reports. Royal Bank of Canada raised 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 IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price target on IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. National Bankshares lifted their price target on IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, BMO Capital Markets reduced their price target on IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th.

IGM Financial Price Performance

Shares of TSE IGM opened at C$40.05 on Friday. The stock has a market capitalization of C$9.48 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 4.09 and a beta of 1.54. The business has a 50-day moving average of C$38.50 and a 200-day moving average of C$36.90. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$40.19.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The company had revenue of C$816.31 million during the quarter, compared to the consensus estimate of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. As a group, sell-side analysts predict that IGM Financial will post 4.0291363 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st will be given a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 annualized dividend and a yield of 5.62%. IGM Financial’s dividend payout ratio (DPR) is presently 63.38%.

About IGM Financial

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.