IGM Financial (TSE:IGM) had its target price trimmed by Royal Bank of Canada from C$41.00 to C$40.00 in a research report report published on Monday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.
A number of other analysts also recently weighed in on the company. Canaccord Genuity upped their target price on IGM Financial from C$34.50 to C$35.00 in a research report on Monday. CIBC upped their target price on IGM Financial from C$41.00 to C$44.00 in a research report on Wednesday, April 24th. Desjardins downgraded IGM Financial from a buy rating to a hold rating and cut their target price for the company from C$39.00 to C$37.00 in a research report on Monday, February 4th. Finally, Barclays dropped their price objective on IGM Financial from C$34.00 to C$31.00 in a research report on Monday, January 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of C$38.88.
TSE:IGM opened at C$35.81 on Monday. The firm has a market cap of $8.96 billion and a PE ratio of 11.26. The company has a quick ratio of 0.45, a current ratio of 3.93 and a debt-to-equity ratio of 40.36. IGM Financial has a fifty-two week low of C$29.84 and a fifty-two week high of C$39.96.
IGM Financial (TSE:IGM) last released its earnings results on Friday, February 8th. The financial services provider reported C$0.75 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.77 by C($0.02). The firm had revenue of C$791.47 million during the quarter. On average, research analysts expect that IGM Financial will post 3.48000027530753 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.563 per share. This is an increase from IGM Financial’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend was Thursday, March 28th. IGM Financial’s dividend payout ratio is currently 70.75%.
IGM Financial Company Profile
IGM Financial Inc, a financial services company, manages and distributes investment funds and other managed asset products in Canada. The company operates through Investors Group, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning tools; mutual funds; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts.
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