Intact Financial Given Consensus Recommendation of “Buy” by Brokerages (TSE:IFC)
Shares of Intact Financial (TSE:IFC) have received a consensus rating of “Buy” from the eight brokerages that are covering the company, Analyst RN reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$78.33.
Intact Financial (TSE:IFC) opened at 74.62 on Thursday. Intact Financial has a 1-year low of $60.16 and a 1-year high of $75.26. The stock’s 50-day moving average is $72.63 and its 200-day moving average is $70.5. The company has a market cap of $9.816 billion and a price-to-earnings ratio of 19.28.
Intact Financial (TSE:IFC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.54 by $0.11. On average, analysts predict that Intact Financial will post $5.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%.
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.
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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