IGM Financial Inc. (TSE:IGM) to Post Q2 2023 Earnings of $0.85 Per Share, National Bank Financial Forecasts

Posted by on Jul 31st, 2023

IGM Financial Inc. (TSE:IGM – Free Report) – National Bank Financial cut their Q2 2023 earnings per share estimates for shares of IGM Financial in a report issued on Wednesday, July 26th. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will post earnings per share of $0.85 for the quarter, down from their previous forecast of $0.90. The consensus estimate for IGM Financial’s current full-year earnings is $3.62 per share. National Bank Financial also issued estimates for IGM Financial’s Q3 2023 earnings at $0.94 EPS.

Several other research firms also recently weighed in on IGM. Royal Bank of Canada dropped their price target on IGM Financial from C$50.00 to C$49.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 4th. Scotiabank dropped their price target on IGM Financial from C$49.00 to C$47.00 in a research note on Friday, May 5th. TD Securities raised IGM Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$44.00 to C$48.00 in a report on Wednesday, April 5th. Finally, BMO Capital Markets decreased their price objective on IGM Financial from C$46.00 to C$44.00 in a report on Friday, May 5th.

IGM Financial Stock Down 0.5 %

IGM Financial stock opened at C$41.00 on Monday. The company has a debt-to-equity ratio of 35.67, a current ratio of 1.81 and a quick ratio of 0.31. The stock has a market capitalization of C$9.76 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 14.05 and a beta of 1.54. IGM Financial has a 1-year low of C$33.45 and a 1-year high of C$43.97. The business has a fifty day moving average price of C$40.23 and a 200-day moving average price of C$40.73.

IGM Financial (TSE:IGM – Get Free Report) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported C$0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.03. The business had revenue of C$934.05 million for the quarter, compared to analysts’ expectations of C$838.00 million. IGM Financial had a return on equity of 16.18% and a net margin of 26.26%.

IGM Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a dividend of $0.563 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.49%. IGM Financial’s payout ratio is currently 51.96%.

IGM Financial Company Profile

(Get Free Report)

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; and IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program.

Read More

Receive News & Ratings for IGM Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IGM Financial and related companies with MarketBeat.com's FREE daily email newsletter.