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

Shares of IGM Financial Inc. (TSE:IGM) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$49.29.

A number of brokerages have issued reports on IGM. National Bankshares boosted their target price on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price objective on IGM Financial from C$43.00 to C$47.00 in a report on Monday, November 11th. TD Securities upped their target price on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. Finally, Scotiabank raised their price target on IGM Financial from C$53.00 to C$56.00 in a research note on Friday, November 8th.

IGM Financial Stock Up 0.8 %

IGM stock opened at C$46.02 on Friday. IGM Financial has a 12 month low of C$32.95 and a 12 month high of C$47.96. The company has a market cap of C$10.89 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 4.09 and a beta of 1.53. The firm has a 50-day moving average of C$46.21 and a two-hundred day moving average of C$42.16. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. During the same quarter last year, the company posted $0.89 EPS. As a group, analysts forecast that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s 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.