Q3 2017 EPS Estimates for IGM Financial Inc. (TSE:IGM) Decreased by Analyst

IGM Financial Inc. (TSE:IGM) – Research analysts at Desjardins decreased their Q3 2017 earnings per share (EPS) estimates for IGM Financial in a research report issued on Thursday. Desjardins analyst G. Ho now anticipates that the financial services provider will earn $0.80 per share for the quarter, down from their prior forecast of $0.85. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for IGM Financial’s Q4 2017 earnings at $0.86 EPS and FY2018 earnings at $3.46 EPS.

Several other brokerages have also issued reports on IGM. BMO Capital Markets reiterated a “market perform” rating and issued a C$45.00 target price on shares of IGM Financial in a research report on Friday, August 4th. CIBC reiterated a “neutral” rating and issued a C$44.00 target price on shares of IGM Financial in a research report on Monday, May 8th. Finally, Barclays PLC upped their target price on shares of IGM Financial from C$39.10 to C$41.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of C$42.19.

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IGM Financial (TSE IGM) opened at 42.49 on Monday. The company has a market capitalization of $10.22 billion and a PE ratio of 13.11. IGM Financial has a 52 week low of $34.83 and a 52 week high of $42.93. The stock has a 50 day moving average price of $41.02 and a 200-day moving average price of $40.48.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.563 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from IGM Financial’s previous quarterly dividend of $0.47. This represents a $2.25 annualized dividend and a yield of 5.30%.

IGM Financial Company Profile

IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.

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