IGM Financial Inc. (TSE:IGM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

IGM Financial Inc. (TSE:IGM) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$42.17.

A number of brokerages have recently issued reports on IGM. Scotiabank boosted their price objective on IGM Financial from C$40.00 to C$44.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. National Bankshares increased their price objective on IGM Financial from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, TD Securities lifted their target price on IGM Financial from C$39.00 to C$41.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th.

IGM Financial Trading Up 0.2 %

IGM stock opened at C$33.37 on Thursday. IGM Financial has a one year low of C$30.34 and a one year high of C$42.02. The stock has a market cap of C$7.95 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a fifty day moving average price of C$35.04 and a two-hundred day moving average price of C$34.47. The company has a debt-to-equity ratio of 38.26, a current ratio of 1.94 and a quick ratio of 0.31.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. Equities analysts anticipate that IGM Financial will post 3.711039 EPS for the current year.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Wednesday, March 27th. IGM Financial’s dividend payout ratio (DPR) is currently 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.