IGM Financial Inc. (TSE:IGM) to Post FY2024 Earnings of $3.88 Per Share, National Bank Financial Forecasts

IGM Financial Inc. (TSE:IGM - Free Report) - Equities research analysts at National Bank Financial upped their FY2024 EPS estimates for IGM Financial in a research report issued on Monday, April 29th. National Bank Financial analyst J. Gloyn now expects that the financial services provider will post earnings per share of $3.88 for the year, up from their previous forecast of $3.86. The consensus estimate for IGM Financial's current full-year earnings is $3.71 per share.

A number of other equities analysts have also recently issued reports on the stock. TD Securities lifted their target price on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. National Bankshares lifted 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. Scotiabank lifted 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. Finally, Royal Bank of Canada boosted their price objective on shares of IGM Financial from C$43.00 to C$44.00 and gave the company a "sector perform" rating in a research report on Friday, February 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$42.50.

IGM Financial Price Performance

IGM traded up C$0.90 during midday trading on Thursday, reaching C$35.73. 307,857 shares of the company's stock were exchanged, compared to its average volume of 246,868. The company has a debt-to-equity ratio of 38.26, a current ratio of 1.94 and a quick ratio of 0.31. The stock has a market capitalization of C$8.51 billion, a PE ratio of 9.21, a P/E/G ratio of 4.24 and a beta of 1.58. The business's 50-day moving average price is C$34.70 and its 200 day moving average price is C$34.50. IGM Financial has a 1-year low of C$30.34 and a 1-year high of C$42.02.

IGM Financial (TSE:IGM - Get Free Report) last announced its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.89 by C($0.05). The business had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Wednesday, March 27th. IGM Financial's dividend payout ratio 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.