Q2 2023 EPS Estimates for Intact Financial Co. Raised by National Bank Financial (TSE:IFC)

Intact Financial Co. (TSE:IFC – Get Rating) – National Bank Financial lifted their Q2 2023 earnings per share (EPS) estimates for Intact Financial in a research report issued on Monday, May 22nd. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of $3.17 for the quarter, up from their prior forecast of $3.03. The consensus estimate for Intact Financial’s current full-year earnings is $13.11 per share. National Bank Financial also issued estimates for Intact Financial’s Q3 2023 earnings at $3.22 EPS, Q4 2023 earnings at $3.67 EPS, FY2023 earnings at $13.12 EPS and FY2024 earnings at $13.74 EPS.

Other analysts have also recently issued reports about the company. Scotiabank raised their price objective on Intact Financial from C$220.00 to C$225.00 in a research report on Friday, April 28th. National Bankshares raised their price objective on Intact Financial from C$240.00 to C$242.00 in a research report on Tuesday, May 2nd. Royal Bank of Canada cut their price objective on Intact Financial from C$232.00 to C$229.00 and set an “outperform” rating for the company in a research report on Tuesday, May 16th. Barclays lowered their target price on Intact Financial from C$235.00 to C$220.00 in a research note on Friday, April 28th. Finally, Cormark lowered their target price on Intact Financial from C$211.00 to C$207.00 in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$223.33.

Intact Financial Stock Performance

IFC opened at C$200.62 on Wednesday. Intact Financial has a 12-month low of C$172.04 and a 12-month high of C$209.57. The stock has a market cap of C$35.16 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.01 and a beta of 0.57. The business has a 50 day moving average of C$198.54 and a 200-day moving average of C$197.57. The company has a quick ratio of 0.28, a current ratio of 0.40 and a debt-to-equity ratio of 35.06.

Insiders Place Their Bets

In other Intact Financial news, Senior Officer Charles Brindamour sold 30,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of C$195.00, for a total transaction of C$5,850,000.00. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $1.10 per share. The ex-dividend date is Wednesday, June 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.19%. Intact Financial’s dividend payout ratio (DPR) is currently 34.19%.

About Intact Financial

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Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, Ireland, rest of Europe, and the Middle East. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner occupied residences, and seasonal residences.