CIBC Boosts IGM Financial (TSE:IGM) Price Target to C$50.00

IGM Financial (TSE:IGMGet Free Report) had its target price increased by research analysts at CIBC from C$47.00 to C$50.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 12.66% from the stock’s current price.

Several other research firms have also recently issued reports on IGM. Jefferies Financial Group upped their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, November 1st. BMO Capital Markets reduced their target price on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Scotiabank boosted their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday. National Bankshares upped their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, IGM Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.14.

Get Our Latest Analysis on IGM

IGM Financial Price Performance

IGM opened at C$44.38 on Friday. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The stock has a market capitalization of C$10.50 billion, a P/E ratio of 12.50, a P/E/G ratio of 4.09 and a beta of 1.53. The company’s 50-day simple moving average is C$40.92 and its two-hundred day simple moving average is C$38.60. IGM Financial has a 52-week low of C$31.92 and a 52-week high of C$44.85.

IGM Financial (TSE:IGMGet Free Report) last posted its earnings results 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 company had revenue of C$816.31 million for the quarter, compared to the consensus estimate 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 predict that IGM Financial will post 4.006816 EPS for the current year.

About IGM Financial

(Get Free Report)

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.

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