FY2024 EPS Estimates for Intact Financial Co. Increased by Cormark (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities researchers at Cormark increased their FY2024 earnings estimates for Intact Financial in a research note issued to investors on Wednesday, May 1st. Cormark analyst L. Persaud now expects that the company will earn $14.71 per share for the year, up from their previous estimate 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 quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.44 by C$0.03. The firm had revenue of C$6.53 billion during the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%.

A number of other brokerages have also commented on IFC. CIBC raised their price target on Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Desjardins raised their price target on Intact Financial from C$235.00 to C$238.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada raised their price target on Intact Financial from C$229.00 to C$236.00 and gave the stock a “sector perform” rating in a research note on Monday. TD Securities raised their price target on Intact Financial from C$225.00 to C$235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Scotiabank increased their price objective on Intact Financial from C$256.00 to C$261.00 in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Intact Financial presently has an average rating of “Moderate Buy” and an average price target of C$240.11.

Intact Financial Stock Performance

Shares of IFC stock opened at C$228.87 on Thursday. The stock has a fifty day moving average of C$223.59 and a 200 day moving average of C$212.30. 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$40.81 billion, a price-to-earnings ratio of 32.74, 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.

Insider Transactions at Intact Financial

In other 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. 0.23% of the stock is owned by insiders.

Intact Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s payout ratio is currently 69.24%.

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.