IGM Financial Inc. (TSE:IGM) Receives Average Recommendation of “Moderate Buy” from Analysts

IGM Financial Inc. (TSE:IGM) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$43.71.

IGM has been the topic of a number of analyst reports. National Bankshares increased their price target on IGM Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets dropped their price objective on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Jefferies Financial Group raised their price objective on IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Scotiabank raised their price objective on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th.

IGM Financial Stock Performance

IGM stock opened at C$40.05 on Friday. The business’s fifty day moving average is C$38.50 and its 200-day moving average is C$36.90. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The company has a market cap of C$9.48 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 4.09 and a beta of 1.54. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$40.19.

IGM Financial (TSE:IGM) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). The company had revenue of C$816.31 million during the quarter, compared to analyst estimates of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. Equities research analysts forecast that IGM Financial will post 4.0291363 EPS for the current year.

IGM Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Friday, September 27th. IGM Financial’s dividend payout ratio is 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.