What is Cormark’s Forecast for iA Financial FY2024 Earnings?

iA Financial Co. Inc. (TSE:IAG) – Investment analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for iA Financial in a research report issued on Wednesday, November 6th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $10.84 for the year, up from their prior forecast of $10.54. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Cormark also issued estimates for iA Financial’s FY2025 earnings at $12.05 EPS.

Several other brokerages have also commented on IAG. National Bankshares upped their price target on iA Financial from C$118.00 to C$121.00 in a research note on Wednesday. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. TD Securities lifted their price target on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of iA Financial from C$126.00 to C$140.00 in a research note on Thursday. Finally, Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$128.50.

iA Financial Price Performance

iA Financial stock opened at C$127.99 on Friday. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. The company has a market cap of C$12.18 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$134.29. The firm has a 50 day moving average price of C$112.36 and a 200 day moving average price of C$97.25.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.58 by C$0.17. The business had revenue of C$1.64 billion for the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s dividend payout ratio (DPR) is presently 43.91%.

Insider Buying and Selling

In other news, Director Denis Ricard sold 7,200 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00. In related news, Director Denis Ricard sold 7,200 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. Insiders own 0.09% of the company’s stock.

iA Financial Company Profile

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.