IGM Financial Inc. (IGM) Receives Average Rating of “Buy” from Brokerages

Shares of IGM Financial Inc. (TSE:IGM) have received an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$47.14.

Several analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating and issued a C$50.00 price target on shares of IGM Financial in a report on Tuesday, December 12th. Barclays cut their price target on IGM Financial from C$44.00 to C$43.00 in a report on Monday, November 6th. CIBC cut their target price on IGM Financial from C$48.00 to C$45.00 in a research note on Monday, November 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$48.00 target price on shares of IGM Financial in a research note on Monday, November 6th. Finally, TD Securities raised IGM Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from C$48.00 to C$52.00 in a research note on Monday, November 6th.

Shares of IGM Financial (TSE IGM) opened at C$42.80 on Friday. The stock has a market capitalization of $10,510.00, a P/E ratio of 13.13 and a beta of 0.99. IGM Financial has a 1-year low of C$38.56 and a 1-year high of C$45.82.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported C$0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.80 by C($0.04). The company had revenue of C$773.34 million during the quarter. IGM Financial had a return on equity of 14.75% and a net margin of 23.46%.

In related news, Director Jean-Claude Bachand bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average cost of C$44.35 per share, for a total transaction of C$44,350.00.

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IGM Financial Company Profile

IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.

Analyst Recommendations for IGM Financial (TSE:IGM)

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