IGM Financial Inc. (TSE:IGM) Forecasted to Post Q1 2024 Earnings of $0.91 Per Share

IGM Financial Inc. (TSE:IGM - Free Report) - Stock analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for IGM Financial in a research report issued to clients and investors on Monday, April 29th. National Bank Financial analyst J. Gloyn expects that the financial services provider will post earnings per share of $0.91 for the quarter. The consensus estimate for IGM Financial's current full-year earnings is $3.71 per share. National Bank Financial also issued estimates for IGM Financial's Q2 2024 earnings at $0.99 EPS, Q3 2024 earnings at $1.01 EPS, Q4 2024 earnings at $0.96 EPS and FY2025 earnings at $4.17 EPS.

IGM Financial (TSE:IGM - Get Free Report) last announced its quarterly earnings data 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). 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 analysts' expectations of C$773.00 million.

Several other research firms have also commented on IGM. TD Securities raised their target price on IGM Financial from C$41.00 to C$42.00 in a report on Thursday, April 25th. National Bankshares raised their target price on IGM Financial from C$44.00 to C$46.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. Scotiabank raised their target price on IGM Financial from C$44.00 to C$45.00 and gave the stock a "sector perform" rating in a report on Tuesday. Finally, Royal Bank of Canada raised their target price on IGM Financial from C$43.00 to C$44.00 and gave the stock a "sector perform" rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, IGM Financial currently has a consensus rating of "Moderate Buy" and an average target price of C$42.50.

IGM Financial Stock Performance

IGM Financial stock traded up C$0.42 during midday trading on Wednesday, hitting C$34.83. 173,992 shares of the company were exchanged, compared to its average volume of 246,128. The firm has a market capitalization of C$8.29 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$42.02. The business has a fifty day simple moving average of C$34.72 and a two-hundred day simple moving average of C$34.50. The company has a debt-to-equity ratio of 38.26, a quick ratio of 0.31 and a current ratio of 1.94.

IGM Financial Announces Dividend

The firm also recently disclosed 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 6.47%. The ex-dividend date of this dividend was Wednesday, March 27th. IGM Financial's payout ratio is currently 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.