IGM Financial (TSE:IGM) Price Target Raised to C$40.00 at BMO Capital Markets

IGM Financial (TSE:IGM) had its price target raised by BMO Capital Markets from C$39.00 to C$40.00 in a report released on Monday, BayStreet.CA reports.

Other analysts also recently issued reports about the company. CIBC lifted their price objective on IGM Financial from C$42.00 to C$45.00 and gave the company an outperform rating in a report on Friday. TD Securities upped their price target on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on shares of IGM Financial from C$44.00 to C$45.00 in a report on Friday. National Bankshares upped their target price 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. Finally, Scotiabank lifted their price target on IGM Financial from C$44.00 to C$45.00 and gave the company a sector perform rating in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, IGM Financial currently has a consensus rating of Moderate Buy and an average price target of C$44.00.

IGM Financial Price Performance

Shares of IGM stock opened at C$38.12 on Monday. The company’s 50-day simple moving average is C$34.79 and its two-hundred day simple moving average is C$34.61. 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. The company has a market capitalization of C$9.08 billion, a P/E ratio of 9.82, a P/E/G ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last announced its quarterly earnings data 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 the consensus estimate 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 analysts anticipate that IGM Financial will post 3.711039 EPS for the current year.

IGM Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.563 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.25 annualized dividend and a yield of 5.91%. IGM Financial’s dividend payout ratio (DPR) 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.