TD Securities Boosts IGM Financial (TSE:IGM) Price Target to C$42.00

IGM Financial (TSE:IGM) had its target price hoisted by TD Securities from C$41.00 to C$42.00 in a research note published on Thursday morning, BayStreet.CA reports.

Other research analysts have also recently issued reports about the company. National Bankshares upped their price objective 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. Royal Bank of Canada upped their price objective 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. Finally, Scotiabank upped their price objective 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$42.33.

IGM Financial Trading Up 1.3 %

IGM opened at C$34.16 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 capitalization of C$8.13 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 4.24 and a beta of 1.58. The company has a debt-to-equity ratio of 38.26, a current ratio of 1.94 and a quick ratio of 0.31. The business has a fifty day moving average price of C$34.75 and a 200 day moving average price of C$34.48.

IGM Financial (TSE:IGM) last released its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The company had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. Sell-side analysts expect that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.563 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.59%. IGM Financial’s dividend payout ratio (DPR) is presently 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.