FY2024 EPS Estimates for Intact Financial Co. Lifted by Analyst (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Investment analysts at Cormark increased their FY2024 earnings per share estimates for Intact Financial in a research report issued to clients and investors on Wednesday, May 1st. Cormark analyst L. Persaud now forecasts that the company will earn $14.71 per share for the year, up from their prior forecast of $14.53. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating the consensus estimate of C$3.44 by C$0.03. The firm had revenue of C$6.53 billion for the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%.

A number of other research firms have also recently commented on IFC. Royal Bank of Canada lifted their price target on shares of Intact Financial from C$229.00 to C$236.00 and gave the stock a “sector perform” rating in a research note on Monday, April 29th. Raymond James increased their price target on Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. TD Securities boosted their price objective on Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. National Bankshares upped their price objective on Intact Financial from C$245.00 to C$247.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, CIBC lifted their target price on Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$240.11.

Intact Financial Stock Up 0.8 %

TSE IFC opened at C$230.24 on Thursday. Intact Financial has a 52 week low of C$188.22 and a 52 week high of C$237.25. The firm has a market capitalization of C$41.06 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.01 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. The company has a fifty day moving average of C$223.54 and a two-hundred day moving average of C$212.42.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. Insiders own 0.23% of the company’s stock.

Intact Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.21 per share. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.10%. Intact Financial’s dividend payout ratio is presently 69.24%.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.