BMO Capital Markets Forecasts Strong Price Appreciation for IGM Financial (TSE:IGM) Stock

IGM Financial (TSE:IGM) had its target price increased by equities researchers at BMO Capital Markets from C$47.00 to C$48.00 in a note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 7.26% from the company’s previous close.

IGM has been the subject of several other reports. Jefferies Financial Group raised their price target on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. CIBC raised their price objective on shares of IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. Scotiabank lifted their target price on shares of IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. National Bankshares increased their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Securities boosted their price target on IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$50.29.

IGM Financial Stock Up 0.8 %

Shares of IGM stock traded up C$0.35 during midday trading on Monday, reaching C$44.75. 115,121 shares of the stock were exchanged, compared to its average volume of 315,068. The company’s 50 day moving average is C$45.94 and its two-hundred day moving average is C$42.68. 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 firm has a market cap of C$10.59 billion, a PE ratio of 12.61, a price-to-earnings-growth 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.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, equities research analysts predict that IGM Financial will post 4.006816 EPS for the current year.

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.