IGM Financial (TSE:IGM) Price Target Increased to C$45.00 by Analysts at Royal Bank of Canada

IGM Financial (TSE:IGM) had its price objective raised by Royal Bank of Canada from C$44.00 to C$45.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

A number of other equities research analysts have also weighed in on IGM. National Bankshares raised their price objective on IGM Financial from C$44.00 to C$46.00 and gave the company an outperform rating in a research note on Monday, February 5th. Scotiabank lifted their target price on IGM Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a research report on Tuesday. Finally, TD Securities lifted their target price on IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, IGM Financial currently has an average rating of Moderate Buy and an average target price of C$43.17.

IGM Financial Price Performance

Shares of TSE IGM opened at C$37.96 on Friday. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$42.02. The business has a 50 day moving average price of C$34.74 and a two-hundred day moving average price of C$34.54. 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 firm has a market cap of C$9.04 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. The business had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. Sell-side analysts expect that IGM Financial will post 3.711039 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Friday, June 28th. IGM Financial’s dividend payout ratio (DPR) is 57.99%.

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.