Scotiabank Boosts IGM Financial (TSE:IGM) Price Target to C$45.00

IGM Financial (TSE:IGM) had its target price lifted by equities researchers at Scotiabank from C$44.00 to C$45.00 in a report released on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 30.32% from the stock’s current price.

Several other brokerages have also recently weighed in on IGM. National Bankshares boosted their price target on shares of IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Royal Bank of Canada boosted their price target on shares of IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Finally, TD Securities boosted their price target on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$42.50.

IGM Financial Price Performance

IGM traded up C$0.14 on Tuesday, hitting C$34.53. 91,910 shares of the company’s stock were exchanged, compared to its average volume of 243,256. 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 current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. The firm has a 50-day moving average price of C$34.74 and a 200-day moving average price of C$34.49. The stock has a market cap of C$8.22 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last announced its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (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 business had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. As a group, equities analysts anticipate that IGM Financial will post 3.711039 earnings per share for the current year.

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.