Brokerages Set IGM Financial Inc. (TSE:IGM) PT at C$44.00

IGM Financial Inc. (TSE:IGM) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Three research 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$44.00.

Several equities research analysts have recently weighed in on IGM shares. CIBC increased their target price on shares of IGM Financial from C$42.00 to C$45.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of IGM Financial from C$44.00 to C$45.00 in a research note on Friday, May 3rd. BMO Capital Markets raised their price target on shares of IGM Financial from C$39.00 to C$40.00 in a research note on Monday, May 6th. TD Securities raised their price target on shares of IGM Financial from C$42.00 to C$43.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Scotiabank raised their price target on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 30th.

IGM Financial Stock Performance

Shares of IGM opened at C$37.90 on Tuesday. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$42.02. The company has a market cap of C$9.00 billion, a P/E ratio of 11.73, a P/E/G ratio of 4.04 and a beta of 1.55. The company has a current ratio of 2.15, a quick ratio of 0.31 and a debt-to-equity ratio of 37.00. The company’s fifty day simple moving average is C$37.02 and its 200-day simple moving average is C$35.82.

IGM Financial (TSE:IGM) last announced its earnings results on Thursday, May 2nd. The financial services provider reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.91 by C$0.03. IGM Financial had a net margin of 27.67% and a return on equity of 11.63%. The business had revenue of C$811.67 million for the quarter, compared to the consensus estimate of C$796.65 million. As a group, analysts expect that IGM Financial will post 3.8664564 EPS for the current year.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Friday, June 28th. IGM Financial’s dividend payout ratio (DPR) is 69.66%.

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.