IGM Financial Inc. (TSE:IGM) to Post Q1 2024 Earnings of $0.91 Per Share, National Bank Financial Forecasts

IGM Financial Inc. (TSE:IGM) – National Bank Financial issued their Q1 2024 earnings per share estimates for IGM Financial in a report issued on Monday, April 29th. National Bank Financial analyst J. Gloyn expects that the financial services provider will post earnings of $0.91 per share for the quarter. The consensus estimate for IGM Financial’s current full-year earnings is $3.71 per share. National Bank Financial also issued estimates for IGM Financial’s Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.01 EPS, Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.17 EPS.

IGM Financial (TSE:IGM) last issued its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS 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 firm had revenue of C$768.80 million during the quarter, compared to the consensus estimate of C$773.00 million.

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

IGM Financial Price Performance

Shares of TSE IGM opened at C$34.83 on Wednesday. The business’s 50 day moving average price is C$34.72 and its two-hundred day moving average price is C$34.50. The company has a market cap of C$8.29 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. IGM Financial has a twelve month low of C$30.34 and a twelve month high of C$42.02.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend was Wednesday, March 27th. IGM Financial’s dividend payout ratio is currently 57.99%.

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.