Analysts Issue Forecasts for Intact Financial Co.’s Q1 2024 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities researchers at National Bank Financial issued their Q1 2024 EPS estimates for Intact Financial in a report released on Monday, April 29th. National Bank Financial analyst J. Gloyn anticipates that the company will post earnings of $4.26 per share for the quarter. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share. National Bank Financial also issued estimates for Intact Financial’s Q2 2024 earnings at $3.03 EPS, Q4 2024 earnings at $4.65 EPS, FY2024 earnings at $15.78 EPS and FY2025 earnings at $17.69 EPS.

Several other equities analysts have also issued reports on the company. CIBC upped their price target on Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. 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 note on Wednesday, February 14th. Desjardins boosted their price target on shares of Intact Financial from C$235.00 to C$238.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Scotiabank increased their price objective on shares of Intact Financial from C$256.00 to C$261.00 in a report on Friday, April 26th. Finally, Royal Bank of Canada lifted 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 report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Intact Financial has an average rating of “Moderate Buy” and an average price target of C$240.11.

Intact Financial Stock Up 0.8 %

TSE:IFC opened at C$230.24 on Thursday. The stock’s fifty day moving average price is C$223.54 and its two-hundred day moving average price is C$212.42. The company has a market cap of C$41.06 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.01 and a beta of 0.54. Intact Financial has a 52-week low of C$188.22 and a 52-week high of C$237.25. The company has a debt-to-equity ratio of 34.90, a quick ratio of 0.28 and a current ratio of 0.38.

Intact Financial (TSE:IFC) last announced its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, topping the consensus estimate of C$3.44 by C$0.03. The company 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%.

Insiders Place Their Bets

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

Intact Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.21 dividend. This represents a $4.84 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, March 14th. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s dividend payout ratio is presently 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.