Desjardins Research Analysts Lift Earnings Estimates for Intact Financial Co. (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Investment analysts at Desjardins increased their Q1 2024 EPS estimates for shares of Intact Financial in a research report issued to clients and investors on Monday, April 15th. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $3.50 for the quarter, up from their previous estimate of $3.30. Desjardins currently has a “Buy” rating and a $238.00 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.

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

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of Intact Financial from C$230.00 to C$240.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. CIBC increased their price target on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. TD Securities increased their price target on shares of Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price target on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 14th. Finally, National Bankshares dropped their price target on shares of Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$236.70.

Intact Financial Trading Up 0.7 %

Shares of IFC opened at C$221.46 on Tuesday. The stock has a market capitalization of C$39.49 billion, a P/E ratio of 31.68, a PEG ratio of 2.01 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. The firm has a fifty day simple moving average of C$222.64 and a two-hundred day simple moving average of C$210.49. Intact Financial has a twelve month low of C$188.22 and a twelve month high of C$237.25.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the company’s stock in a transaction that occurred 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 owned by corporate insiders.

Intact Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.21 per share. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 14th. Intact Financial’s dividend 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.