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

IGM Financial Inc. (TSE:IGM) has received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$43.71.

A number of equities research analysts recently commented on IGM shares. National Bankshares upped their target price on IGM Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Scotiabank upped their target price on IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on IGM Financial from C$38.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets dropped their target price on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their price objective on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th.

IGM Financial Price Performance

Shares of IGM stock opened at C$38.72 on Friday. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$39.77. The firm has a market capitalization of C$9.16 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 4.09 and a beta of 1.54. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The stock’s 50-day simple moving average is C$38.35 and its 200-day simple moving average is C$36.78.

IGM Financial (TSE:IGM) last issued 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). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The business had revenue of C$816.31 million for the quarter, compared to analysts’ expectations of C$826.00 million. As a group, equities analysts forecast that IGM Financial will post 4.0291363 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 5.82%. The ex-dividend date is Friday, September 27th. IGM Financial’s dividend payout ratio is currently 63.38%.

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.