Q3 EPS Estimates for IGM Financial Lifted by Analyst

IGM Financial Inc. (TSE:IGM) – Equities researchers at National Bank Financial increased their Q3 2024 earnings per share estimates for IGM Financial in a research report issued on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will post earnings of $1.03 per share for the quarter, up from their prior estimate of $1.02. The consensus estimate for IGM Financial’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for IGM Financial’s Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $3.95 EPS and FY2025 earnings at $4.43 EPS.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. The company had revenue of C$816.31 million for the quarter, compared to the consensus estimate of C$826.00 million.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group lifted their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday. BMO Capital Markets reduced their target price on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. National Bankshares upped their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, Scotiabank lifted their price target on shares of IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, IGM Financial presently has an average rating of “Moderate Buy” and an average price target of C$45.00.

IGM Financial Stock Performance

Shares of IGM stock opened at C$42.25 on Friday. The firm’s 50 day moving average is C$40.48 and its 200 day moving average is C$38.26. The stock has a market capitalization of C$10.00 billion, a P/E ratio of 11.90, a PEG ratio of 4.09 and a beta of 1.53. IGM Financial has a 12 month low of C$31.89 and a 12 month high of C$43.07. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were issued a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Friday, September 27th. IGM Financial’s dividend payout ratio is presently 63.38%.

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.