IGM Financial Inc reports results for the quarter ended in December - Earnings Summary

Igm Financial

16/02/2024 24:35

* IGM Financial Inc  IGM.TO  reported quarterly adjusted
earnings
of 84 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 94 cents.  The mean expectation of six analysts for the
quarter was for earnings of 87 cents per share. Wall Street
expected results to range from 84 cents to 90 cents per share.
    * Revenue fell 9.3% to C$768.82 million from a year ago;
analysts
expected C$824.00 million. 
    * IGM Financial Inc's reported EPS for the quarter was
C$1.76​.
    * The company reported quarterly net income of C$419.6
million.
    * IGM Financial Inc shares had risen by 2.4% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.8%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is  "hold."

Wall Street's median 12-month price target for IGM Financial Inc
is C$42.50 
This summary was machine generated from LSEG data February 16 at
12:35 a.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.87           0.84           Missed
 Sep. 30 2023      0.90           0.88           Missed
 Jun. 30 2023      0.85           0.86           Beat
 Mar. 31 2023      0.87           0.85           Missed