IGM Financial (TSE:IGM) Hits New 1-Year High - Still a Buy?

IGM Financial Inc. (TSE:IGM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$42.64 and last traded at C$41.82, with a volume of 25994 shares changing hands. The stock had previously closed at C$42.21.

Analysts Set New Price Targets

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

IGM Financial Price Performance

The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The stock has a market capitalization of C$9.90 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The stock's 50 day moving average is C$39.70 and its two-hundred day moving average is C$37.78.

IGM Financial (TSE:IGM - Get Free Report) last announced its quarterly earnings data 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 firm 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%. On average, equities analysts anticipate that IGM Financial Inc. will post 4.006816 EPS 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. Shareholders of record on Thursday, October 31st will be issued a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 5.38%. The ex-dividend date is Friday, September 27th. IGM Financial's payout ratio is currently 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.