National Bank Financial Comments on Intact Financial Co.’s Q2 2023 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC – Get Rating) – Analysts at National Bank Financial boosted their Q2 2023 earnings per share (EPS) estimates for Intact Financial in a research note issued on Monday, May 22nd. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings of $3.17 per share 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 research analysts have also issued reports about the company. Cormark reduced their target price on Intact Financial from C$211.00 to C$207.00 in a report on Wednesday, February 8th. TD Securities cut their price target on Intact Financial from C$235.00 to C$225.00 and set a “buy” rating on the stock in a report on Wednesday, February 8th. Royal Bank of Canada dropped their target price on Intact Financial from C$232.00 to C$229.00 and set an “outperform” rating on the stock in a report on Tuesday, May 16th. Scotiabank upped their target price on Intact Financial from C$220.00 to C$225.00 in a report on Friday, April 28th. Finally, Raymond James upped their target price on Intact Financial from C$229.00 to C$233.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$223.33.

Intact Financial Stock Performance

IFC stock opened at C$199.95 on Wednesday. The business’s 50-day moving average price is C$198.30 and its two-hundred day moving average price is C$197.55. The company has a current ratio of 0.40, a quick ratio of 0.28 and a debt-to-equity ratio of 35.06. The firm has a market cap of C$35.04 billion, a PE ratio of 15.54, a P/E/G ratio of 2.01 and a beta of 0.57. Intact Financial has a 1-year low of C$172.04 and a 1-year high of C$209.57.

Intact Financial Announces Dividend

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 given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 14th. Intact Financial’s payout ratio is 34.19%.

Insider Activity

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. 0.24% of the stock is owned by company insiders.

Intact Financial Company Profile

(Get Rating)

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.