Q4 2023 EPS Estimates for Intact Financial Co. Lowered by Analyst (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities research analysts at Desjardins cut their Q4 2023 earnings estimates for shares of Intact Financial in a research report issued to clients and investors on Wednesday, September 13th. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $3.28 for the quarter, down from their prior forecast of $3.31. Desjardins has a “Buy” rating and a $225.00 price objective on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $13.95 per share. Desjardins also issued estimates for Intact Financial’s FY2024 earnings at $13.70 EPS and FY2025 earnings at $14.79 EPS.

IFC has been the subject of a number of other reports. Raymond James lowered their price target on Intact Financial from C$224.00 to C$221.00 and set an “outperform” rating for the company in a research report on Tuesday, July 11th. TD Securities set a C$220.00 price target on Intact Financial and gave the company a “buy” rating in a research note on Wednesday. CIBC set a C$225.00 price target on Intact Financial and gave the company an “outperform” rating in a research note on Thursday. National Bankshares set a C$230.00 price target on Intact Financial and gave the company an “outperform” rating in a research note on Wednesday. Finally, Scotiabank lifted their target price on Intact Financial from C$218.00 to C$222.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$220.36.

Intact Financial Stock Up 0.6 %

Shares of IFC opened at C$199.89 on Friday. The company has a market cap of C$35.03 billion, a PE ratio of 28.00, a P/E/G ratio of 2.01 and a beta of 0.57. The business has a fifty day moving average of C$195.61 and a 200 day moving average of C$197.14. Intact Financial has a 52-week low of C$182.01 and a 52-week high of C$209.57. The company has a quick ratio of 0.28, a current ratio of 0.39 and a debt-to-equity ratio of 35.29.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported C$2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.54 by C($0.24). The company had revenue of C$5.49 billion during the quarter. Intact Financial had a return on equity of 8.51% and a net margin of 6.67%.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, September 14th. Intact Financial’s dividend payout ratio (DPR) is 61.62%.

About Intact Financial

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. 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, as well as travel insurance.