IGM Financial (TSE:IGM) Sets New 12-Month High – Should You Buy?

Shares of IGM Financial Inc. (TSE:IGM) reached a new 52-week high on Wednesday . The company traded as high as C$43.29 and last traded at C$43.29, with a volume of 1321 shares. The stock had previously closed at C$42.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IGM shares. Jefferies Financial Group lifted their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. BMO Capital Markets reduced their target price on IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Scotiabank increased their price objective on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Royal Bank of Canada increased their price objective on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, National Bankshares lifted their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$45.00.

IGM Financial Trading Up 0.8 %

The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The business’s 50-day moving average price is C$40.64 and its two-hundred day moving average price is C$38.43. The company has a market capitalization of C$10.15 billion, a P/E ratio of 11.99, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The business had revenue of C$816.31 million during the quarter, compared to analyst estimates of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. As a group, analysts forecast that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st were given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Friday, September 27th. IGM Financial’s dividend payout ratio is 63.38%.

IGM Financial Company Profile

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.