BMO Capital Markets Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its target price raised by research analysts at BMO Capital Markets from C$47.00 to C$48.00 in a report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 7.26% from the company’s current price.

Several other brokerages have also recently weighed in on IGM. TD Securities lifted their price target on IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. CIBC lifted their target price on IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. Scotiabank raised their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, National Bankshares raised their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.29.

IGM Financial Stock Performance

Shares of IGM stock traded up C$0.35 during trading hours on Monday, hitting C$44.75. 115,121 shares of the company were exchanged, compared to its average volume of 315,068. IGM Financial has a 52-week low of C$32.95 and a 52-week high of C$47.96. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The firm has a fifty day simple moving average of C$45.94 and a 200 day simple moving average of C$42.68. The stock has a market capitalization of C$10.59 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last issued its earnings results on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.03 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. During the same period in the prior year, the business earned $0.89 earnings per share. Research analysts predict that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

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.