Cormark Analysts Boost Earnings Estimates for Intact Financial Co. (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Investment analysts at Cormark lifted their FY2024 earnings per share estimates for Intact Financial in a report released on Wednesday, May 1st. Cormark analyst L. Persaud now anticipates that the company will earn $14.71 per share for the year, up from their prior estimate of $14.53. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, beating the consensus estimate of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The company had revenue of C$6.53 billion during the quarter.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of Intact Financial from C$229.00 to C$236.00 and gave the stock a “sector perform” rating in a research report on Monday. Desjardins upped their price objective on Intact Financial from C$235.00 to C$238.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. National Bankshares increased their target price on Intact Financial from C$245.00 to C$247.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James boosted their price target on Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. Finally, BMO Capital Markets raised their price objective on Intact Financial from C$230.00 to C$240.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$240.11.

Intact Financial Trading Down 0.2 %

IFC opened at C$228.40 on Thursday. Intact Financial has a 12-month low of C$188.22 and a 12-month 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$40.73 billion, a PE ratio of 32.68, a P/E/G ratio of 2.01 and a beta of 0.54. The firm’s fifty day moving average price is C$223.54 and its 200 day moving average price is C$212.42.

Insider Buying and Selling at Intact Financial

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

Intact Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $1.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.12%. Intact Financial’s dividend payout ratio (DPR) is currently 69.24%.

Intact Financial Company Profile

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.