Intact Financial (OTCMKTS:IFCZF) Releases Earnings Results, Misses Expectations By $0.15 EPS

Intact Financial (OTCMKTS:IFCZF) issued its earnings results on Tuesday. The company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.15), Zacks reports. Intact Financial had a net margin of 11.45% and a return on equity of 16.95%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.22 billion.

Intact Financial Trading Down 5.0%

Shares of IFCZF stock opened at $205.34 on Thursday. The stock has a market cap of $36.21 billion and a P/E ratio of 15.78. The stock has a 50 day simple moving average of $203.18 and a 200 day simple moving average of $193.27. Intact Financial has a 1 year low of $174.43 and a 1 year high of $226.09.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IFCZF shares. TD Securities reissued a “buy” rating on shares of Intact Financial in a research report on Wednesday. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Intact Financial in a research note on Friday, July 10th. Barclays reissued an “overweight” rating on shares of Intact Financial in a report on Wednesday. Finally, Scotiabank restated an “outperform” rating on shares of Intact Financial in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Intact Financial Company Profile

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.