IGM Financial (TSE:IGM) Given New C$43.00 Price Target at TD Securities

IGM Financial (TSE:IGM) had its price target hoisted by TD Securities from C$42.00 to C$43.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the stock. CIBC lifted their target price on shares of IGM Financial from C$42.00 to C$45.00 and gave the company an outperform rating in a research note on Friday. Scotiabank upped their price objective on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a report on Tuesday, April 30th. National Bankshares raised their target price on IGM Financial from C$44.00 to C$46.00 and gave the company an outperform rating in a report on Monday, February 5th. BMO Capital Markets upped their price objective on shares of IGM Financial from C$39.00 to C$40.00 in a research report on Monday. Finally, Royal Bank of Canada boosted their price target on IGM Financial from C$44.00 to C$45.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, IGM Financial has a consensus rating of Moderate Buy and a consensus price target of C$44.00.

IGM Financial Stock Up 0.4 %

TSE:IGM opened at C$38.12 on Monday. IGM Financial has a 1-year low of C$30.34 and a 1-year high of C$42.02. The firm has a market capitalization of C$9.08 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 4.24 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. The business’s fifty day moving average price is C$34.79 and its 200 day moving average price is C$34.61.

IGM Financial (TSE:IGM) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. The company had revenue of C$768.80 million during the quarter, compared to analysts’ expectations of C$773.00 million. On average, sell-side analysts forecast that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Friday, June 28th. IGM Financial’s payout ratio is 57.99%.

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.