IGM Financial Inc. (TSE:IGM – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$43.71.
A number of research analysts have recently weighed in on IGM shares. Royal Bank of Canada raised their target price on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Scotiabank lifted their price objective on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Jefferies Financial Group raised their price target on shares of 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. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets cut their target price on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th.
Get Our Latest Research Report on IGM Financial
IGM Financial Stock Performance
IGM Financial (TSE:IGM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The business had revenue of C$816.31 million during the quarter, compared to the consensus estimate of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. On average, research analysts forecast that IGM Financial will post 4.0291363 EPS for the current year.
IGM Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date is Friday, September 27th. IGM Financial’s dividend payout ratio is currently 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.
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