IGM Financial (TSE:IGM) Price Target Cut to C$46.00

Posted by on Aug 5th, 2023

IGM Financial (TSE:IGM – Get Free Report) had its target price dropped by equities research analysts at TD Securities from C$48.00 to C$46.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would suggest a potential upside of 20.67% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Scotiabank decreased their price objective on IGM Financial from C$49.00 to C$47.00 in a research note on Friday, May 5th. BMO Capital Markets decreased their price objective on IGM Financial from C$46.00 to C$44.00 in a research note on Friday, May 5th. Finally, Royal Bank of Canada cut their target price on IGM Financial from C$50.00 to C$49.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$45.63.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$38.12 on Thursday. The business has a 50-day moving average of C$40.32 and a 200 day moving average of C$40.69. IGM Financial has a 12 month low of C$33.45 and a 12 month high of C$43.97. The stock has a market capitalization of C$9.07 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 14.05 and a beta of 1.54. The company has a debt-to-equity ratio of 35.67, a current ratio of 1.81 and a quick ratio of 0.31.

IGM Financial (TSE:IGM – Get Free Report) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported C$0.87 EPS for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.03. IGM Financial had a return on equity of 16.18% and a net margin of 26.26%. The company had revenue of C$934.05 million during the quarter, compared to analysts’ expectations of C$838.00 million. As a group, sell-side analysts forecast that IGM Financial will post 3.6155203 earnings per share for the current year.

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.

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