Analyst Upgrades and Downgrades
Recently, several analysts commented on IGM Financial. BMO Capital Markets lowered their target price from C$40.00 to C$39.00. National Bankshares raised their target from C$46.00 to C$47.00 with an “outperform” rating. Scotiabank and Royal Bank of Canada both raised their targets to C$46.00 and C$47.00, respectively. Jefferies Financial also increased their target from C$38.00 to C$39.00, giving a “buy” rating. Overall, two analysts have a hold rating and four have a buy rating, leading to a consensus rating of “Moderate Buy” with a target price of C$43.71.
Read Our Latest Research Report on IGM Financial
IGM Financial Price Performance
The stock’s 50-day moving average is C$38.93 with a 200-day average of C$37.24. Its market cap is C$9.79 billion, with a PE ratio of 11.65 and a beta of 1.54. Recent earnings showed C$0.93 per share, below the C$0.95 expectation. Revenue was C$816.31 million against a C$826.00 million estimate. The company projects earnings of around C$4.03 per share for the year.
IGM Financial Announces Dividend
IGM Financial also announced a quarterly dividend of $0.563, payable on October 31st. The dividend yield is 5.44% with a payout ratio of 63.38%.
IGM Financial Company Profile
IGM Financial Inc. is a Canadian wealth and asset management firm, offering financial planning services and mutual fund management.
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