FY2024 EPS Estimates for IGM Financial Inc. Increased by Analyst (TSE:IGM)

IGM Financial Inc. (TSE:IGM) – Research analysts at National Bank Financial boosted their FY2024 EPS estimates for IGM Financial in a research note issued to investors on Monday, April 29th. National Bank Financial analyst J. Gloyn now expects that the financial services provider will post earnings of $3.88 per share for the year, up from their prior estimate of $3.86. The consensus estimate for IGM Financial’s current full-year earnings is $3.71 per share.

A number of other brokerages have also issued reports on IGM. Scotiabank boosted their target price on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a “sector perform” rating in a research report on Tuesday. National Bankshares boosted their target price on shares of 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. Royal Bank of Canada boosted their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research report on Friday. TD Securities boosted their target price on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Finally, CIBC boosted their target price on shares of IGM Financial from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$43.17.

IGM Financial Trading Up 6.2 %

Shares of IGM stock opened at C$37.96 on Thursday. IGM Financial has a 1 year low of C$30.34 and a 1 year high of C$42.02. The firm’s fifty day simple moving average is C$34.70 and its 200 day simple moving average is C$34.51. The firm has a market capitalization of C$9.04 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26.

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 return on equity of 14.46% and a net margin of 31.03%. The firm had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million.

IGM Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend was Wednesday, March 27th. IGM Financial’s dividend payout ratio (DPR) is presently 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.