Jefferies Financial Group Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its price target raised by research analysts at Jefferies Financial Group from C$39.00 to C$45.00 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 7.04% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. BMO Capital Markets dropped their target price on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. 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 report on Wednesday. Scotiabank upped their price objective on IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their price objective on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, IGM Financial presently has an average rating of “Moderate Buy” and an average price target of C$45.00.

IGM Financial Stock Performance

TSE IGM traded up C$0.21 during trading hours on Friday, reaching C$42.04. The stock had a trading volume of 81,862 shares, compared to its average volume of 240,812. The stock has a fifty day moving average of C$40.33 and a 200 day moving average of C$38.18. The stock has a market cap of C$9.95 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. IGM Financial has a 52-week low of C$31.89 and a 52-week high of C$43.07. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12.

IGM Financial (TSE:IGM) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). The firm had revenue of C$816.31 million during the quarter, compared to analysts’ expectations of C$826.00 million. IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. Sell-side analysts predict that IGM Financial will post 4.006816 earnings per share 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 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.