Intact Financial Co. (IFC) Expected to Post FY2018 Earnings of $6.99 Per Share

Intact Financial Co. (TSE:IFC) – Equities researchers at Desjardins dropped their FY2018 earnings estimates for Intact Financial in a research note issued on Wednesday. Desjardins analyst D. Young now expects that the company will post earnings per share of $6.99 for the year, down from their prior forecast of $7.20. Desjardins currently has a “Sell” rating and a $100.00 price target on the stock. Desjardins also issued estimates for Intact Financial’s FY2019 earnings at $7.74 EPS.

Several other equities research analysts have also weighed in on the stock. CIBC lowered shares of Intact Financial from an “outperform” rating to a “neutral” rating and increased their target price for the stock from C$106.00 to C$113.00 in a report on Friday, October 27th. Raymond James Financial upgraded shares of Intact Financial from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$104.00 to C$110.00 in a report on Thursday, October 19th. National Bank Financial increased their target price on shares of Intact Financial from C$105.00 to C$112.00 and gave the stock a “sector perform” rating in a report on Monday, November 6th. TD Securities upgraded shares of Intact Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from C$115.00 to C$120.00 in a report on Thursday, November 16th. Finally, Barclays increased their target price on shares of Intact Financial from C$100.00 to C$109.00 in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of C$109.20.

Intact Financial (IFC) traded down C$0.40 on Friday, reaching C$101.41. 195,301 shares of the company’s stock traded hands, compared to its average volume of 175,215. The firm has a market capitalization of $14,150.00, a price-to-earnings ratio of 18.71 and a beta of 0.31. Intact Financial has a 12 month low of C$91.40 and a 12 month high of C$109.33.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, November 7th. The company reported C$1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.57 by C$0.04. Intact Financial had a net margin of 7.86% and a return on equity of 10.89%.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.52%. Intact Financial’s payout ratio is 46.13%.

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Intact Financial Company Profile

Intact Financial Corporation is a holding company, which provides property and casualty (P&C) insurance. The Company operates through P&C insurance operations segment. It offers a range of car, home and business insurance products, including personal auto, personal property, commercial P&C and commercial auto.

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