Brokerages Set IGM Financial Inc. (TSE:IGM) Price Target at C$42.17

IGM Financial Inc. (TSE:IGM) has received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$42.17.

Several equities analysts have recently commented on IGM shares. National Bankshares upped their price target on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Royal Bank of Canada boosted their price target on IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Scotiabank raised their price target on IGM Financial from C$40.00 to C$44.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Finally, TD Securities increased their target price on shares of IGM Financial from C$39.00 to C$41.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th.

IGM Financial Trading Up 0.8 %

IGM Financial stock opened at C$33.88 on Thursday. The company has a debt-to-equity ratio of 38.26, a quick ratio of 0.31 and a current ratio of 1.94. The firm’s 50-day moving average is C$34.88 and its 200-day moving average is C$34.49. IGM Financial has a 1 year low of C$30.34 and a 1 year high of C$42.02. The company has a market cap of C$8.07 billion, a P/E ratio of 8.73, a PEG ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The company had revenue of C$768.80 million for the quarter, compared to the consensus estimate of C$773.00 million. IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. On average, equities analysts expect that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Wednesday, March 27th. IGM Financial’s dividend payout ratio is presently 57.99%.

IGM Financial Company Profile

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.