Q3 EPS Estimates for IGM Financial Lifted by Analyst

IGM Financial Inc. (TSE:IGM - Free Report) - Investment analysts at National Bank Financial upped their Q3 2024 earnings estimates for IGM Financial in a research report issued to clients and investors on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will earn $1.03 per share for the quarter, up from their previous forecast 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.

A number of other research analysts have also recently weighed in on IGM. Royal Bank of Canada boosted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Jefferies Financial Group upped their price objective on IGM Financial from C$39.00 to C$45.00 and gave the company a "hold" rating in a research note on Friday. Scotiabank raised their target price on IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. 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. Finally, National Bankshares lifted their price objective on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an "outperform" rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$45.00.

IGM Financial Stock Performance

IGM stock traded up C$0.40 during midday trading on Friday, hitting C$42.23. The company's stock had a trading volume of 138,460 shares, compared to its average volume of 241,078. The stock has a market cap of C$9.99 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 4.09 and a beta of 1.53. 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 stock's 50-day moving average price is C$40.33 and its 200 day moving average price is C$38.18. IGM Financial has a 1 year low of C$31.89 and a 1 year high of C$43.07.

IGM Financial (TSE:IGM - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). The company 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%.

IGM Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were given a $0.563 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.33%. IGM Financial's dividend 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.