IGM Financial (IGM) to Release Earnings on Thursday

IGM Financial (TSE:IGM) will release its earnings data after the market closes on Thursday, November 7th. Analysts expect IGM Financial to post earnings of C$1.02 per share for the quarter.

IGM Financial (TSE:IGM) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The company had revenue of C$816.31 million during the quarter, compared to analysts’ expectations of C$826.00 million. IGM Financial had a return on equity of 12.80% and a net margin of 29.47%.

IGM Financial Stock Performance

TSE:IGM opened at C$42.33 on Tuesday. The company has a fifty day moving average of C$40.48 and a two-hundred day moving average of C$38.30. IGM Financial has a fifty-two week low of C$31.92 and a fifty-two week high of C$43.07. The stock has a market capitalization of C$10.02 billion, a PE ratio of 11.91, 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 quick ratio of 0.31 and a current ratio of 2.12.

IGM Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date was Friday, September 27th. IGM Financial’s dividend payout ratio is presently 63.38%.

Analyst Ratings Changes

Several research firms have commented on IGM. Jefferies Financial Group boosted their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research note on Friday. Scotiabank increased their price objective on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. BMO Capital Markets reduced their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Finally, National Bankshares boosted their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$45.00.

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.