IGM Financial (IGM) Scheduled to Post Quarterly Earnings on Thursday

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

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

IGM Financial Stock Performance

Shares of IGM opened at C$34.41 on Wednesday. The firm’s fifty day simple moving average is C$34.74 and its two-hundred day simple moving average is C$34.49. The stock has a market capitalization of C$8.19 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$42.02.

IGM Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.