Desjardins Research Analysts Lift Earnings Estimates for Intact Financial Co. (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Analysts at Desjardins raised their Q1 2024 earnings estimates for Intact Financial in a research report issued to clients and investors on Monday, April 15th. Desjardins analyst D. Young now expects that the company will post earnings per share of $3.50 for the quarter, up from their prior forecast of $3.30. Desjardins has a “Buy” rating and a $238.00 price target on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share. Desjardins also issued estimates for Intact Financial’s FY2024 earnings at $14.65 EPS.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$3.44 by C$0.03. The business had revenue of C$6.53 billion for the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%.

A number of other analysts have also weighed in on IFC. TD Securities raised their target price on shares of Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. National Bankshares cut their target price on shares of Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. CIBC raised their target price on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Raymond James raised their target price on shares of Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada raised their target price on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Intact Financial presently has an average rating of “Moderate Buy” and an average target price of C$236.70.

Intact Financial Stock Performance

Shares of TSE:IFC opened at C$221.46 on Tuesday. Intact Financial has a 1 year low of C$188.22 and a 1 year high of C$237.25. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. The stock has a market capitalization of C$39.49 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company’s 50 day simple moving average is C$222.64 and its 200 day simple moving average is C$210.49.

Intact Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.21 dividend. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. This represents a $4.84 annualized dividend and a yield of 2.19%. Intact Financial’s payout ratio is presently 69.24%.

Insider Activity at Intact Financial

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is owned by company insiders.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.