IGM Financial (IGM) Scheduled to Release Earnings on Thursday

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

IGM Financial (TSE:IGM) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Price Performance

Shares of IGM opened at C$42.85 on Thursday. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The company’s fifty day moving average price is C$40.33 and its 200-day moving average price is C$38.18. IGM Financial has a 1-year low of C$30.92 and a 1-year high of C$43.07. The firm has a market capitalization of C$10.14 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st will be given a dividend of $0.563 per share. The ex-dividend date is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a yield of 5.26%. IGM Financial’s dividend payout ratio is currently 63.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Scotiabank lifted their target price on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on shares of IGM Financial from C$38.00 to C$39.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BMO Capital Markets cut their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, National Bankshares increased their price target on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.14.

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.