IGM Financial (TSE:IGM) Price Target Raised to C$49.00

IGM Financial (TSE:IGM) had its price objective hoisted by analysts at CIBC from C$45.00 to C$49.00 in a research report issued on Tuesday, BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 9.84% from the stock’s current price.

Other research analysts also recently issued reports about the company. Canaccord Genuity lifted their target price on IGM Financial from C$39.50 to C$44.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 26th. BMO Capital Markets boosted their price target on IGM Financial from C$41.00 to C$44.00 and gave the company a “market perform” rating in a research note on Tuesday. TD Securities boosted their price target on IGM Financial from C$41.00 to C$47.00 and gave the company a “hold” rating in a research note on Monday, April 26th. Desjardins downgraded IGM Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 12th. Finally, National Bankshares set a C$51.00 price target on IGM Financial and gave the company an “outperform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$45.29.

Shares of TSE IGM traded down C$0.25 during midday trading on Tuesday, hitting C$44.61. 212,810 shares of the company’s stock were exchanged, compared to its average volume of 334,455. The company has a quick ratio of 0.39, a current ratio of 2.61 and a debt-to-equity ratio of 45.41. IGM Financial has a 12 month low of C$26.61 and a 12 month high of C$45.12. The company’s 50 day moving average price is C$40.05 and its 200 day moving average price is C$35.88. The firm has a market capitalization of C$10.63 billion and a PE ratio of 13.89.

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

IGM Financial Company Profile

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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Analyst Recommendations for IGM Financial (TSE:IGM)

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