Desjardins Comments on Intact Financial Co.’s FY2022 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFCGet Rating) – Equities researchers at Desjardins dropped their FY2022 earnings per share estimates for Intact Financial in a research note issued on Monday, July 25th. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $11.30 for the year, down from their previous estimate of $11.65. The consensus estimate for Intact Financial’s current full-year earnings is $12.81 per share. Desjardins also issued estimates for Intact Financial’s FY2023 earnings at $12.70 EPS.

Several other equities research analysts have also recently issued reports on the company. Raymond James cut their target price on Intact Financial from C$217.00 to C$206.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 12th. Barclays dropped their price objective on Intact Financial from C$212.00 to C$208.00 and set a “na” rating for the company in a research note on Tuesday. CIBC lifted their price objective on Intact Financial from C$210.00 to C$225.00 and gave the company an “outperform” rating in a research note on Thursday, May 12th. National Bankshares lifted their price objective on Intact Financial from C$225.00 to C$230.00 and gave the company an “outperform” rating in a research note on Thursday, May 12th. Finally, Scotiabank dropped their price objective on Intact Financial from C$207.00 to C$195.00 in a research note on Tuesday, June 28th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$210.36.

Intact Financial Price Performance

IFC stock opened at C$183.10 on Thursday. The business has a fifty day moving average of C$181.65 and a two-hundred day moving average of C$180.03. The company has a quick ratio of 0.24, a current ratio of 0.43 and a debt-to-equity ratio of 37.07. The stock has a market cap of C$32.14 billion and a price-to-earnings ratio of 16.03. Intact Financial has a 52-week low of C$158.00 and a 52-week high of C$190.60.

Intact Financial (TSE:IFCGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported C$2.53 EPS for the quarter, beating the consensus estimate of C$2.43 by C$0.10. The company had revenue of C$5.31 billion during the quarter, compared to analyst estimates of C$4.94 billion.

About Intact Financial

(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.

Further Reading

Earnings History and Estimates for Intact Financial (TSE:IFC)

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