TD Securities Raises IGM Financial (TSE:IGM) Price Target to C$42.00

IGM Financial (TSE:IGM) had its price objective increased by investment analysts at TD Securities from C$41.00 to C$42.00 in a report released on Thursday, BayStreet.CA reports. TD Securities’ price objective would indicate a potential upside of 24.33% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a report on Friday, February 16th. National Bankshares upped their price objective on IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Scotiabank upped their price target on shares of IGM Financial from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Three 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 an average rating of “Moderate Buy” and a consensus price target of C$42.33.

IGM Financial Price Performance

Shares of IGM Financial stock traded down C$0.26 during mid-day trading on Thursday, reaching C$33.78. 87,524 shares of the stock traded hands, compared to its average volume of 246,047. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$42.02. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. The stock has a market capitalization of C$8.04 billion, a PE ratio of 8.71, a PEG ratio of 4.24 and a beta of 1.58. The business has a 50-day moving average of C$34.82 and a 200 day moving average of C$34.49.

IGM Financial (TSE:IGM) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. The firm had revenue of C$768.80 million for the quarter, compared to analysts’ expectations of C$773.00 million. On average, analysts predict that IGM Financial will post 3.711039 EPS 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.