IGM Financial (IGM) to Release Earnings on Thursday

IGM Financial (TSE:IGM) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 2nd.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). The firm had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%.

IGM Financial Stock Up 0.1 %

Shares of TSE IGM opened at C$34.41 on Wednesday. The stock has a market cap of C$8.19 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. IGM Financial has a 52-week low of C$30.34 and a 52-week high of C$42.02. The business has a 50-day moving average price of C$34.74 and a 200 day moving average price of C$34.49. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.563 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.54%. IGM Financial’s payout ratio is 57.99%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IGM. National Bankshares upped their target price on shares of IGM Financial from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Scotiabank upped their price objective on IGM Financial from C$44.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Tuesday. Royal Bank of Canada lifted their target price on IGM Financial from C$43.00 to C$44.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, TD Securities upped their price target on IGM Financial from C$41.00 to C$42.00 in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$42.50.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.