Intact Financial Co. (TSE:IFC) to Post Q1 2024 Earnings of $3.50 Per Share, Desjardins Forecasts

Intact Financial Co. (TSE:IFC) – Stock analysts at Desjardins lifted their Q1 2024 earnings per share estimates for shares of Intact Financial in a research note issued on Monday, April 15th. Desjardins analyst D. Young now forecasts that the company will earn $3.50 per share for the quarter, up from their prior estimate of $3.30. Desjardins has a “Buy” rating and a $235.00 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.

A number of other brokerages have also recently commented on IFC. TD Securities raised their price target on Intact Financial from C$225.00 to C$235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Scotiabank raised their price target on Intact Financial from C$252.00 to C$256.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. National Bankshares decreased their price target on 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. Raymond James raised their price objective on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. Finally, CIBC raised their price target on shares of Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Intact Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$236.40.

Intact Financial Stock Up 0.3 %

IFC stock opened at C$220.01 on Tuesday. 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$39.23 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.01 and a beta of 0.54. The business’s fifty day moving average price is C$222.37 and its two-hundred day moving average price is C$210.33. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$237.25.

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

Insider Activity

In other news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial 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 currently owned by company insiders.

Intact Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.20%. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s payout ratio 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.