Intact Financial Given Consensus Rating of “Buy” by Brokerages (TSE:IFC)
Shares of Intact Financial (TSE:IFC) have been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the company, StockRatingsNetwork reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$78.33.
IFC has been the subject of a number of recent research reports. Analysts at TD Securities raised their price target on shares of Intact Financial from C$75.00 to C$76.00 in a research note on Thursday, July 31st. They now have a “hold” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Intact Financial from C$80.00 to C$82.00 in a research note on Thursday, July 31st. They now have an “overweight” rating on the stock. Finally, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Intact Financial in a research note on Tuesday, July 22nd.
Shares of Intact Financial (TSE:IFC) opened at 74.47 on Thursday. Intact Financial has a 52-week low of $60.16 and a 52-week high of $74.92. The stock’s 50-day moving average is $72.57 and its 200-day moving average is $70.41. The company has a market cap of $9.796 billion and a P/E ratio of 19.10.
Intact Financial (TSE:IFC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.11. Analysts expect that Intact Financial will post $5.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.58%.
Intact Financial Corporation is a provider of home, auto and business insurance. It insures more than five million individuals and businesses through its insurance subsidiaries, and are private sector provider of property and casualty (TSE:IFC) insurance in British Columbia, Alberta, Ontario, Quebec and Nova Scotia.
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