IGM Financial (IGM) Set to Announce Quarterly Earnings on Thursday

IGM Financial (TSE:IGM) is set to announce its earnings results after the market closes on Thursday, May 2nd.

IGM Financial (TSE:IGM) last announced its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$768.80 million for the quarter, compared to the consensus estimate of C$773.00 million.

IGM Financial Stock Performance

Shares of IGM stock opened at C$34.04 on Thursday. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$42.02. The stock has a market cap of C$8.11 billion, a PE ratio of 8.77, a price-to-earnings-growth 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 company’s fifty day moving average price is C$34.86 and its 200-day moving average price is C$34.49.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Wednesday, March 27th. IGM Financial’s dividend payout ratio (DPR) is presently 57.99%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IGM. Royal Bank of Canada lifted their price target on IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. TD Securities boosted their target price on IGM Financial from C$39.00 to C$41.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Scotiabank boosted their target price on IGM Financial from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, National Bankshares boosted their target price on IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$42.17.

About IGM Financial

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.