IGM Financial (TSE:IGM) Sets New 12-Month High - Should You Buy?

Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as C$42.58 and last traded at C$42.38, with a volume of 103613 shares traded. The stock had previously closed at C$41.64.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on IGM Financial from C$38.00 to C$39.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. BMO Capital Markets reduced their price objective on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. National Bankshares increased their price target on IGM Financial from C$46.00 to C$47.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, Scotiabank increased their price target on IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$43.71.

IGM Financial Stock Up 2.5 %

The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The firm has a 50 day simple moving average of C$40.06 and a 200-day simple moving average of C$38.00. The stock has a market cap of C$10.10 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The business had revenue of C$816.31 million during the quarter, compared to the consensus estimate 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 research analysts forecast that IGM Financial Inc. will post 4.006816 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 Thursday, October 31st. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.28%. IGM Financial's dividend payout ratio (DPR) 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.

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