Analyst Ratings
Recently, several analysts have changed their ratings for IGM Financial. BMO Capital Markets lowered its target price from C$40.00 to C$39.00 on August 9. National Bankshares increased its target price from C$46.00 to C$47.00, giving it an “outperform” rating on July 29. Scotiabank raised its price target from C$45.00 to C$46.00 on July 24. Royal Bank of Canada also increased its target from C$46.00 to C$47.00 on August 8. Jefferies Financial Group upgraded its target from C$38.00 to C$39.00 with a “buy” rating on July 29. In total, two analysts have a hold rating, while four recommend a buy, resulting in a consensus rating of “Moderate Buy” and a target price of C$43.71 according to MarketBeat.
Latest Research Report on IGM Financial
Stock Performance
The stock’s 50-day moving average is C$38.93, and the 200-day average is C$37.24. IGM Financial has a market cap of C$9.79 billion, a P/E ratio of 11.65, and a beta of 1.54. It reports a current ratio of 2.12 and a debt-to-equity ratio of 35.99.
IGM Financial (TSE:IGM Get Free Report) reported quarterly earnings of C$0.93 on August 7, missing estimates of C$0.95. The company generated revenue of C$816.31 million, below the expected C$826 million, with a net margin of 29.47% and a return on equity of 12.80%. Analysts predict earnings per share will be 4.03 for this year.
Dividend Announcement
The company announced a quarterly dividend of $0.563 to be paid on October 31, with an ex-dividend date of September 27. This amounts to an annual yield of 5.44%, with a payout ratio of 63.38%.
Company Profile
IGM Financial Inc is a Canadian wealth and asset management firm, offering financial planning, mutual fund management, and portfolio services through its Wealth Management and Asset Management segments.
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