IGM Financial Inc. (TSE:IGM) to Post FY2023 Earnings of $3.49 Per Share, National Bank Financial Forecasts

IGM Financial Inc. (TSE:IGM) – Investment analysts at National Bank Financial increased their FY2023 earnings estimates for shares of IGM Financial in a research note issued to investors on Wednesday, November 1st. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will post earnings per share of $3.49 for the year, up from their previous forecast of $3.45. The consensus estimate for IGM Financial’s current full-year earnings is $3.54 per share. National Bank Financial also issued estimates for IGM Financial’s Q4 2023 earnings at $0.88 EPS.

IGM has been the subject of several other reports. Royal Bank of Canada cut their price target on shares of IGM Financial from C$49.00 to C$42.00 and set a “sector perform” rating for the company in a report on Tuesday, October 24th. CIBC reduced their price target on shares of IGM Financial from C$50.00 to C$42.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. BMO Capital Markets boosted their price objective on shares of IGM Financial from C$35.00 to C$36.00 in a research note on Friday. Scotiabank dropped their price objective on shares of IGM Financial from C$45.00 to C$40.00 and set a “sector perform” rating on the stock in a research note on Monday, October 30th. Finally, TD Securities dropped their price objective on shares of IGM Financial from C$38.00 to C$37.00 and set a “buy” rating on the stock 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$40.63.

IGM Financial Trading Up 3.9 %

Shares of IGM stock opened at C$34.11 on Monday. The company has a 50 day moving average of C$35.09 and a 200-day moving average of C$38.16. The company has a quick ratio of 0.31, a current ratio of 1.67 and a debt-to-equity ratio of 50.09. IGM Financial has a 12-month low of C$30.34 and a 12-month high of C$43.97. The firm has a market cap of C$8.12 billion, a P/E ratio of 8.44, a PEG ratio of 14.05 and a beta of 1.56.

IGM Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.563 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.25 annualized dividend and a dividend yield of 6.60%. IGM Financial’s dividend payout ratio is presently 55.69%.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; and IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program.