Intercorp Financial Services (NYSE:IFS) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Intercorp Financial Services from “strong buy” to “hold,” while the broader analyst consensus is also “hold” with an average price target of $62.
• IFS shares opened at $50.76, down 0.3%, with a market capitalization of approximately $5.64 billion. The stock has traded between $38.29 and $61.38 over the past year.
• The company’s latest quarterly results were mixed: EPS of $1.53 exceeded estimates of $1.45, but revenue of $493.38 million fell short of the $520.46 million consensus forecast.

Intercorp Financial Services (NYSE:IFS - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages also recently weighed in on IFS. Weiss Ratings raised shares of Intercorp Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, October 6th. Wall Street Zen cut shares of Intercorp Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intercorp Financial Services from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Intercorp Financial Services has an average rating of "Hold" and an average price target of $62.00.

Intercorp Financial Services Trading Down 0.3%

IFS opened at $50.76 on Tuesday. Intercorp Financial Services has a one year low of $38.29 and a one year high of $61.38. The stock has a market capitalization of $5.64 billion, a PE ratio of 9.28, a P/E/G ratio of 0.67 and a beta of 0.79. The business's 50 day moving average price is $54.25 and its 200 day moving average price is $51.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.10.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.08. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%. The firm had revenue of $493.38 million during the quarter, compared to the consensus estimate of $520.46 million. As a group, equities research analysts expect that Intercorp Financial Services will post 6.11 EPS for the current year.

Hedge Funds Weigh In On Intercorp Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new stake in shares of Intercorp Financial Services in the 3rd quarter valued at approximately $25,000. Farther Finance Advisors LLC acquired a new stake in shares of Intercorp Financial Services in the 3rd quarter valued at $30,000. DGS Capital Management LLC acquired a new stake in shares of Intercorp Financial Services in the 1st quarter valued at $213,000. BTG Pactual Asset Management US LLC acquired a new stake in shares of Intercorp Financial Services in the 2nd quarter valued at $250,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Intercorp Financial Services in the 3rd quarter valued at $283,000.

About Intercorp Financial Services

Intercorp Financial Services Inc NYSE: IFS is a Peru-based financial services holding company that provides banking, insurance, investment, and payment services primarily in Peru. The company serves individuals, businesses, and institutional customers through a portfolio of financial businesses operating under the Intercorp platform.

Its principal banking operations are conducted through Interbank, which offers consumer and commercial banking products such as deposits, loans, credit cards, mortgages, payments, and other financial services.

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