IGM Financial (TSE:IGM) Reaches New 52-Week High - What's Next?

IGM Financial Inc. (TSE:IGM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$41.45 and last traded at C$41.41, with a volume of 241326 shares traded. The stock had previously closed at C$41.43.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IGM shares. Royal Bank of Canada lifted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. BMO Capital Markets cut their price target on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Scotiabank boosted their target price on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Finally, Jefferies Financial Group raised their price target on IGM Financial from C$38.00 to C$39.00 and gave the company a "buy" rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$43.71.

IGM Financial Trading Down 0.0 %

The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The stock has a 50-day moving average price of C$39.05 and a two-hundred day moving average price of C$37.38. The stock has a market cap of C$9.80 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). The business had revenue of C$816.31 million during the quarter, compared to analysts' expectations of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. Sell-side analysts forecast that IGM Financial Inc. will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, September 27th. IGM Financial's dividend payout ratio is currently 63.38%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.