Intact Financial (TSE:IFC) Announces Earnings Results

Intact Financial (TSE:IFC) issued its quarterly earnings results on Tuesday. The company reported C$4.61 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$5.83 billion for the quarter. Intact Financial had a return on equity of 17.09% and a net margin of 12.91%.

Intact Financial Trading Down 3.9%

TSE:IFC opened at C$249.00 on Thursday. The company has a debt-to-equity ratio of 25.21, a current ratio of 6.11 and a quick ratio of 0.28. Intact Financial has a fifty-two week low of C$242.87 and a fifty-two week high of C$317.35. The stock’s 50-day moving average is C$254.92 and its two-hundred day moving average is C$265.83. The stock has a market cap of C$44.21 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IFC. TD dropped their price target on Intact Financial from C$354.00 to C$347.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group lifted their price target on Intact Financial from C$306.00 to C$324.00 in a research note on Monday. Raymond James Financial dropped their price target on Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Securities lifted their price objective on shares of Intact Financial from C$346.00 to C$354.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, National Bank Financial lifted their price objective on shares of Intact Financial from C$364.00 to C$372.00 in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$323.55.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.