Shares of IGM Financial Inc. (TSE:IGM – Get Free Report) have received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$42.17.
Several equities analysts recently commented on IGM shares. TD Securities increased their target price on shares of IGM Financial from C$39.00 to C$41.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Scotiabank boosted their target price on IGM Financial from C$40.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Finally, National Bankshares increased 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.
View Our Latest Stock Report on IGM Financial
IGM Financial Stock Performance
IGM Financial (TSE:IGM – Get Free Report) last issued its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The firm had revenue of C$768.80 million during the quarter, compared to analysts’ expectations of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. As a group, equities research analysts predict that IGM Financial will post 3.711039 EPS for the current fiscal year.
IGM Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend is 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.
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