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

Shares of IGM Financial Inc. (TSE:IGM) have been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$49.29.

Several research firms have weighed in on IGM. Scotiabank lifted their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. CIBC lifted their target price on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. BMO Capital Markets lifted their price target on shares of IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. TD Securities increased their price target on IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. Finally, Jefferies Financial Group lifted their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st.

IGM Financial Trading Up 0.1 %

Shares of TSE IGM opened at C$45.09 on Friday. IGM Financial has a fifty-two week low of C$32.95 and a fifty-two week high of C$47.96. The firm has a market capitalization of C$10.67 billion, a P/E ratio of 12.70, a P/E/G ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The company’s 50 day simple moving average is C$46.18 and its 200 day simple moving average is C$42.05.

IGM Financial (TSE:IGM) last issued its 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 return on equity of 12.80% and a net margin of 29.47%. During the same period in the prior year, the firm posted $0.89 EPS. On average, analysts predict that IGM Financial will post 4.006816 EPS for the current year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Tuesday, December 31st. 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.