BMO Capital Markets Issues Pessimistic Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM - Get Free Report) had its target price reduced by research analysts at BMO Capital Markets from C$47.00 to C$46.00 in a research note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets' price objective would indicate a potential upside of 4.31% from the company's previous close.

Several other brokerages have also weighed in on IGM. Jefferies Financial Group decreased their price objective on shares of IGM Financial from C$47.00 to C$42.00 in a report on Monday, April 21st. Scotiabank increased their price target on IGM Financial from C$49.00 to C$51.00 in a research report on Friday. Finally, TD Securities boosted their price objective on IGM Financial from C$51.00 to C$56.00 and gave the stock a "buy" rating in a research note on Monday, February 10th.

IGM Financial Trading Up 0.9%

IGM Financial stock traded up C$0.38 during trading on Monday, hitting C$44.10. The company's stock had a trading volume of 59,304 shares, compared to its average volume of 328,147. The stock has a market capitalization of C$10.52 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 4.09 and a beta of 1.53. The stock's fifty day moving average is C$43.26 and its 200 day moving average is C$44.64. IGM Financial has a 1-year low of C$35.33 and a 1-year high of C$47.96. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61.

IGM Financial Company Profile

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.

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