Canaccord Genuity Raises IGM Financial (TSE:IGM) Price Target to C$36.00

IGM Financial (TSE:IGM) had its target price lifted by investment analysts at Canaccord Genuity from C$35.00 to C$36.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Canaccord Genuity’s price target suggests a potential upside of 1.04% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of IGM Financial from C$41.00 to C$40.00 and set a “sector perform” rating on the stock in a research note on Monday, May 6th. CIBC reduced their target price on shares of IGM Financial from C$44.00 to C$43.50 in a research note on Friday.

TSE:IGM traded down C$0.73 during mid-day trading on Friday, reaching C$35.63. 150,167 shares of the company were exchanged, compared to its average volume of 227,683. The stock has a market capitalization of $8.78 billion and a PE ratio of 11.46. The company has a debt-to-equity ratio of 48.58, a quick ratio of 0.61 and a current ratio of 4.38. IGM Financial has a 12 month low of C$29.84 and a 12 month high of C$38.69. The firm’s fifty day moving average is C$37.41.

IGM Financial (TSE:IGM) last issued its earnings results on Friday, May 3rd. The financial services provider reported C$0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.74 by C($0.04). The firm had revenue of C$89.08 million for the quarter. On average, equities research analysts predict that IGM Financial will post 3.4099998 EPS for the current fiscal year.

IGM Financial Company Profile

IGM Financial Inc, a financial services company, manages and distributes investment funds and other managed asset products in Canada. The company operates through Investors Group, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning tools; mutual funds; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts.

Further Reading: What are the components of an earnings report?

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