IGM Financial (TSE:IGM) Given New C$45.00 Price Target at Jefferies Financial Group

IGM Financial (TSE:IGM - Get Free Report) had its price objective hoisted by equities research analysts at Jefferies Financial Group from C$39.00 to C$45.00 in a report issued on Friday, BayStreet.CA reports. The firm presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's target price would suggest a potential upside of 6.51% from the stock's previous close.

Several other analysts have also weighed in on IGM. 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. BMO Capital Markets cut their target price on IGM Financial from C$40.00 to C$39.00 in a research note 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. Finally, Scotiabank lifted their price target on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, IGM Financial has a consensus rating of "Moderate Buy" and a consensus target price of C$45.00.

IGM Financial Stock Performance

IGM stock traded up C$0.42 during mid-day trading on Friday, hitting C$42.25. 233,559 shares of the company were exchanged, compared to its average volume of 241,538. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The stock has a market capitalization of C$10.00 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The business has a 50 day simple moving average of C$40.48 and a 200-day simple moving average of C$38.26. 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 posted its quarterly 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 company had revenue of C$816.31 million during the quarter, compared to analyst estimates 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 forecast that IGM Financial will post 4.006816 earnings per share for the current year.

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.