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

Igm Financial

03/05/2024 24:25

* IGM Financial Inc  IGM.TO  reported quarterly adjusted
earnings
of 94 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of 85 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 88 cents per share. Wall Street
expected results to range from 87 cents to 91 cents per share.
    * Revenue fell 13.1% to C$811.67 million from a year ago;
analysts
expected C$824.33 million. 
    * IGM Financial Inc's reported EPS for the quarter was 94
cents​.
    * The company reported quarterly net income of C$223.39
million.
    * IGM Financial Inc shares had fallen by 0.3% this
quarter and
lost 0.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is also "hold"

Wall Street's median 12-month price target for IGM Financial Inc
is C$42.00 
This summary was machine generated from LSEG data May 2 at 11:25
p.m. UTC. ​All figures in US 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
 Mar. 31 2024      0.88           0.94           Beat
 Dec. 31 2023      0.87           0.84           Missed
 Sep. 30 2023      0.90           0.88           Missed
 Jun. 30 2023      0.85           0.86           Beat