Industrial Alliance Stock Rating Upgraded by Canaccord Genuity (IAG)
Industrial Alliance (TSE:IAG) was upgraded by equities researchers at Canaccord Genuity to a “buy” rating in a research report issued on Thursday. The firm currently has a C$48.00 target price on the stock, up from their previous target price of C$45.00. Canaccord Genuity’s price target would indicate a potential upside of 9.49% from the company’s current price.
Shares of Industrial Alliance (TSE:IAG) traded up 4.61% on Thursday, hitting $45.86. The stock had a trading volume of 304,205 shares. Industrial Alliance has a 52-week low of $38.09 and a 52-week high of $49.99. The stock’s 50-day moving average is $43.45 and its 200-day moving average is $45.19. The company has a market cap of $4.569 billion and a price-to-earnings ratio of 12.25.
Industrial Alliance (TSE:IAG) last announced its earnings results on Friday, May 9th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.02. Analysts expect that Industrial Alliance will post $3.65 EPS for the current fiscal year.
The company also recently declared a Quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Monday, June 16th will be given a dividend of $0.26 per share. This represents a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, May 21st.
Separately, analysts at BMO Capital Markets downgraded shares of Industrial Alliance from an “outperform” rating to a “market perform” rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$49.50.
Industrial Alliance Insurance and Financial Services Inc (TSE:IAG) is a life and health insurance company.
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