Brokers Set Expectations for Intact Financial Co.’s FY2024 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Stock analysts at Cormark raised their FY2024 earnings estimates for shares of Intact Financial in a research note issued on Wednesday, May 8th. Cormark analyst L. Persaud now expects that the company will earn $14.80 per share for the year, up from their prior estimate of $14.71. The consensus estimate for Intact Financial’s current full-year earnings is $14.53 per share.

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

Several other brokerages have also weighed in on IFC. Desjardins increased their price objective on shares of Intact Financial from C$235.00 to C$238.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. National Bankshares increased their price objective on shares of Intact Financial from C$247.00 to C$260.00 in a report on Thursday. BMO Capital Markets increased their price objective on shares of Intact Financial from C$240.00 to C$250.00 in a report on Thursday. TD Securities raised their price target on shares of Intact Financial from C$250.00 to C$258.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Scotiabank raised their price target on shares of Intact Financial from C$261.00 to C$264.00 in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$247.30.

Intact Financial Price Performance

TSE:IFC opened at C$228.65 on Friday. The firm has a market cap of C$40.77 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a current ratio of 0.38, a quick ratio of 0.28 and a debt-to-equity ratio of 34.90. The company’s 50-day moving average is C$223.54 and its two-hundred day moving average is C$213.53. Intact Financial has a 12-month low of C$188.22 and a 12-month high of C$237.25.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is owned by corporate insiders.

Intact Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $1.21 dividend. This represents a $4.84 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, June 14th. Intact Financial’s dividend payout ratio (DPR) is 69.14%.

Intact Financial Company Profile

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.