IGM Financial (TSE:IGM) Price Target Cut to C$43.00

Posted by on Aug 6th, 2023

IGM Financial (TSE:IGM – Get Free Report) had its target price cut by BMO Capital Markets from C$44.00 to C$43.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 12.80% from the company’s current price.

Several other research analysts have also commented on the stock. Scotiabank cut their price target on shares of IGM Financial from C$49.00 to C$47.00 in a report on Friday, May 5th. Royal Bank of Canada lowered their price objective on shares of IGM Financial from C$50.00 to C$49.00 and set a “sector perform” rating for the company in a research report on Thursday, May 4th. Finally, TD Securities lowered their price objective on shares of IGM Financial from C$48.00 to C$46.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, IGM Financial currently has a consensus rating of “Hold” and a consensus price target of C$45.63.

IGM Financial Trading Up 0.5 %

TSE IGM opened at C$38.12 on Friday. IGM Financial has a one year low of C$33.45 and a one year high of C$43.97. The company’s 50 day moving average price is C$40.32 and its 200 day moving average price is C$40.69. The company has a debt-to-equity ratio of 35.67, a quick ratio of 0.31 and a current ratio of 1.81. The firm has a market capitalization of C$9.07 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 14.05 and a beta of 1.54.

IGM Financial (TSE:IGM – Get Free Report) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported C$0.87 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.03. IGM Financial had a net margin of 26.26% and a return on equity of 16.18%. The firm had revenue of C$934.05 million for the quarter, compared to analyst estimates of C$838.00 million. On average, sell-side analysts predict that IGM Financial will post 3.6155203 EPS 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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