IGM Financial (TSE:IGM) Given New C$45.00 Price Target at CIBC

IGM Financial (TSE:IGM - Free Report) had its target price upped by CIBC from C$42.00 to C$45.00 in a research note issued to investors on Friday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the financial services provider's stock.

A number of other equities analysts have also recently commented on IGM. National Bankshares lifted their price target on IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Scotiabank raised their price objective on IGM Financial from C$44.00 to C$45.00 and gave the company a sector perform rating in a research report on Tuesday. TD Securities increased their price target on shares of IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Finally, Royal Bank of Canada raised their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research note on Friday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$43.17.

IGM Financial Price Performance

Shares of IGM Financial stock traded up C$2.23 on Friday, reaching C$37.96. The stock had a trading volume of 475,412 shares, compared to its average volume of 249,495. The business's 50 day moving average is C$34.70 and its two-hundred day moving average is C$34.51. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. IGM Financial has a 1 year low of C$30.34 and a 1 year high of C$42.02. The company has a market cap of C$9.04 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 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 business had revenue of C$768.80 million for the quarter, compared to analysts' expectations of C$773.00 million. As a group, research analysts anticipate that IGM Financial will post 3.711039 EPS for the current year.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.563 per share. The ex-dividend date was Wednesday, March 27th. This represents a $2.25 dividend on an annualized basis and a yield of 5.93%. IGM Financial's dividend payout ratio is currently 57.99%.

IGM Financial Company Profile

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.