Canada's IGM Financial Q2 adjusted EPS beats estimates, AUM up 12.5%
Overview
IGM Financial Q2 adjusted EPS beats analyst expectations, per LSEG data
Record high Q2 adjusted net earnings of C$252.7 mln, up 14.7% yr/yr
Record high assets under management and advisement of C$283.9 bln, up 12.5% yr/yr
Outlook
IGM Financial emphasizes strong position for growth due to high asset levels
Result Drivers
ASSET GROWTH - Record high assets under management and advisement reached C$283.9 bln, up 12.5% yr/yr
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS | Beat | C$1.07 | C$1 (5 Analysts) |
Q2 EPS |
| C$1.04 |
|
Q2 Net Income |
| C$246.70 mln |
|
Q2 Assets Under Management |
| C$283.90 bln |
|
Q2 Dividend |
| C$0.5625 |
|
Analyst Coverage
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 "buy."
Wall Street's median 12-month price target for IGM Financial Inc is C$51.00, about 8.9% above its August 5 closing price of C$46.47
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nCNWbj0Q7a
