IGM Financial (TSE:IGM) Given New C$45.00 Price Target at Scotiabank

IGM Financial (TSE:IGM) had its price objective hoisted by research analysts at Scotiabank from C$44.00 to C$45.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 29.20% from the stock’s previous close.

IGM has been the topic of a number of other research reports. TD Securities increased their price objective on IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Royal Bank of Canada increased their price objective on IGM Financial from C$43.00 to C$44.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th. Finally, 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$42.50.

IGM Financial Trading Up 1.2 %

TSE:IGM opened at C$34.83 on Tuesday. The company has a market cap of C$8.29 billion, a P/E ratio of 8.98, a P/E/G ratio of 4.24 and a beta of 1.58. The stock’s fifty day moving average price is C$34.72 and its two-hundred day moving average price is C$34.50. IGM Financial has a 1 year low of C$30.34 and a 1 year high of C$42.02. 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 the consensus estimate of C$0.89 by C($0.05). The company had revenue of C$768.80 million for the quarter, compared to analysts’ expectations of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. As a group, analysts expect 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.