Desjardins lowered shares of IGM Financial (TSE:IGM) from a buy rating to a hold rating in a research report sent to investors on Monday, February 4th. They currently have C$37.00 price target on the financial services provider’s stock, down from their prior price target of C$39.00. Desjardins also issued estimates for IGM Financial’s Q4 2018 earnings at $0.77 EPS, FY2018 earnings at $3.31 EPS, FY2019 earnings at $3.05 EPS and FY2020 earnings at $3.19 EPS.
Other equities analysts have also recently issued research reports about the company. Canaccord Genuity upped their price target on IGM Financial from C$35.00 to C$36.00 in a report on Monday, November 5th. Barclays dropped their target price on IGM Financial from C$40.00 to C$34.00 in a report on Friday, October 26th. BMO Capital Markets increased their target price on IGM Financial from C$38.00 to C$39.00 and gave the stock an outperform rating in a report on Monday, November 5th. TD Securities dropped their target price on IGM Financial from C$40.00 to C$39.00 and set a buy rating for the company in a report on Monday, November 19th. Finally, Royal Bank of Canada decreased their price target on IGM Financial from C$44.00 to C$43.00 and set an outperform rating on the stock in a research report on Friday, November 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. IGM Financial currently has an average rating of Buy and an average target price of C$38.13.
TSE IGM traded up C$0.03 on Monday, reaching C$34.41. The stock had a trading volume of 170,600 shares, compared to its average volume of 239,834. The company has a debt-to-equity ratio of 40.36, a current ratio of 3.93 and a quick ratio of 0.45. IGM Financial has a 1 year low of C$29.84 and a 1 year high of C$40.54. The company has a market capitalization of $8.33 billion and a P/E ratio of 10.82.
IGM Financial (TSE:IGM) last released its quarterly earnings results on Friday, February 8th. The financial services provider reported C$0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.77 by C($0.02). The firm had revenue of C$791.47 million during the quarter. On average, equities analysts anticipate that IGM Financial will post 3.45000008058394 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.563 dividend. This is a positive change from IGM Financial’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend is Thursday, March 28th. IGM Financial’s dividend payout ratio (DPR) is currently 70.75%.
IGM Financial Company Profile
IGM Financial Inc manages and distributes investment funds and other managed asset products in Canada. The company operates through Investors Group, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning programs; mutual funds; managed asset and multi-manager investment programs; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts.
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