IGM Financial (TSE:IGM) Price Target Raised to C$44.00 at BMO Capital Markets

IGM Financial (TSE:IGM) had its target price boosted by equities researchers at BMO Capital Markets to C$44.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 1.37% from the stock’s previous close.

Several other brokerages have also recently weighed in on IGM. National Bankshares set a C$51.00 price target on IGM Financial and gave the company an “outperform” rating in a research report on Friday. TD Securities increased their price target on IGM Financial from C$41.00 to C$47.00 and gave the company a “hold” rating in a report on Monday, April 26th. Desjardins cut IGM Financial from a “buy” rating to a “hold” rating in a report on Friday, February 12th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of IGM Financial in a report on Friday. Finally, CIBC reaffirmed an “outperform” rating and issued a C$45.00 target price on shares of IGM Financial in a report on Monday. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. IGM Financial presently has an average rating of “Buy” and a consensus price target of C$45.29.

Shares of IGM stock traded down C$0.25 during trading hours on Tuesday, reaching C$44.61. The company had a trading volume of 212,810 shares, compared to its average volume of 334,455. IGM Financial has a 12 month low of C$26.61 and a 12 month high of C$45.12. The company has a debt-to-equity ratio of 45.41, a current ratio of 2.61 and a quick ratio of 0.39. The business has a fifty day simple moving average of C$40.05 and a 200-day simple moving average of C$35.88. The company has a market cap of C$10.63 billion and a price-to-earnings ratio of 13.91.

IGM Financial (TSE:IGM) last issued its quarterly earnings results on Thursday, February 11th. The financial services provider reported C$0.86 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.91 by C($0.05). The company had revenue of C$812.81 million during the quarter. On average, equities research analysts expect that IGM Financial will post 4.0400001 earnings per share for the current year.

About IGM Financial

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; IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program; IG Wealth Management Advisor Portal, a customer relationship management platform; and IG Wealth Management's dealer platform, which provides increased automation and supports both MFDA and IIROC licensed advisors, as well as new products on its investment dealer platform.

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