IGM Financial (TSE:IGM) Price Target Increased to C$45.00 by Analysts at Scotiabank

IGM Financial (TSE:IGM) had its price target boosted by Scotiabank from C$44.00 to C$45.00 in a report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. TD Securities raised their price objective on shares of IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Royal Bank of Canada raised their price target on shares of IGM Financial from C$43.00 to C$44.00 and gave the company a sector perform rating in a research report on Friday, February 16th. Finally, National Bankshares boosted their price objective on IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of C$42.50.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$34.41 on Tuesday. The business has a 50-day simple moving average of C$34.74 and a 200 day simple moving average of C$34.49. The firm has a market capitalization of C$8.19 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 4.24 and a beta of 1.58. The company has a debt-to-equity ratio of 38.26, a current ratio of 1.94 and a quick ratio of 0.31. IGM Financial has a one year low of C$30.34 and a one year high of C$42.02.

IGM Financial (TSE:IGM) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. The firm had revenue of C$768.80 million for the quarter, compared to the consensus estimate of C$773.00 million. On average, research analysts anticipate that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend was Wednesday, March 27th. 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.