IGM Financial Inc. (TSE:IGM) Receives C$43.71 Average Price Target from Brokerages

Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$43.71.

A number of brokerages have commented on IGM. Scotiabank lifted their price target on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. National Bankshares increased their price target on shares of 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. Jefferies Financial Group boosted 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 research report on Monday, July 29th. Royal Bank of Canada increased their target price on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Finally, BMO Capital Markets lowered their price target on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th.

IGM Financial Trading Down 0.0 %

Shares of IGM traded down C$0.02 during mid-day trading on Thursday, reaching C$41.41. The company's stock had a trading volume of 241,326 shares, compared to its average volume of 239,120. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. IGM Financial has a 52 week low of C$30.34 and a 52 week high of C$41.45. The company's fifty day moving average price is C$39.09 and its two-hundred day moving average price is C$37.43. The stock has a market cap of C$9.80 billion, a PE ratio of 11.66, a P/E/G ratio of 4.09 and a beta of 1.53.

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 (EPS) for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. The company had revenue of C$816.31 million for the quarter, compared to the consensus estimate of C$826.00 million. On average, analysts predict that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 annualized dividend and a yield of 5.44%. IGM Financial's dividend payout ratio (DPR) is presently 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.