IGM Financial Inc. (TSE: IGM) receives average “Hold” rating from brokers

IGM Financial Inc. (TSE: IGM) shares have received a consensus rating of “Buy” from the ten rating agencies that currently cover the stock, Marketbeat.com reports. Three research analysts have given the share a hold rating and four have given it a buy rating. The average 1-year target price among brokers who covered the stock for the past year is $ 57.14.

Several research firms have recently looked at IGM. CIBC raised its price target for the shares of IGM Financial from 55.00 C $ to 60.00 C $ and rated the share as “Outperform” in a research report on Monday, November 8th. TD Securities raised its target price for IGM Financial from CAD 56.00 to CAD 58.00 and gave the company a “Buy” rating in a research note on Friday, November 5th. Canaccord Genuity reiterated a “Buy” rating for the shares of IGM Financial in a research report on Tuesday, November 9th. National Bank Financial raised its price target for IGM Financial to CAD 59.00 and rated the company “na” in a report on Friday, November 5th. Finally, in a research release on Tuesday, November 9th, ATB Capital confirmed a “market perform” rating for the shares of IGM Financial.

TSE IGM’s shares opened at $ 45.62 on Friday. The company has a debt of 36.48, a current metric of 2.65 and a quick ratio of 0.49. IGM Financial has a 1-year low of $ 33.43 and a 1-year high of $ 51.68. The company has a market capitalization of $ 10.91 billion and a price / earnings ratio of 11.61. The company has a 50-day moving average of $ 47.92 and a 200-day moving average of $ 46.16.

IGM Financial (TSE: IGM) last announced its profit results on Thursday November 4th. The financial services company reported earnings per share of $ 1.13 for the quarter, beating the consensus estimate of $ 1.08 by $ 0.05. The company posted revenue of $ 890.98 million for the quarter, compared to analyst expectations of $ 882.00 million. Research analysts expect that IGM Financial will show EPS 4.4099996 for the current financial year.


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The company also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Monday, January 31st, will receive a dividend of $ 0.5625 per share. This equates to a dividend of $ 2.25 on an annual basis and a yield of 4.93%. The ex-dividend date is Thursday, December 30th. IGM Financial’s payout ratio is currently 57.25%.

About IGM Financial

IGM Financial Inc operates as an asset and asset management company in Canada. She works in the Wealth Management, Asset Management and Strategic Investments and Other segments. The company offers financial advisory services; IG Living Plan, which provides financial planning services such as investment vehicles, insurance products, mortgage and banking solutions, and a charity program; IG Wealth Management Advisor Portal, a platform for customer relationship management; and IG Wealth Management’s dealer platform, which offers increased automation and supports both MFDA and IIROC licensed advisors and new products on their investment dealer platform.

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Analyst recommendations for IGM Financial (TSE: IGM)

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