Intact Financial Co. (TSE:IFC - Free Report) - Stock analysts at Desjardins increased their Q1 2024 earnings estimates for Intact Financial in a research report issued on Monday, April 15th. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $3.50 for the quarter, up from their previous forecast of $3.30. Desjardins has a "Buy" rating and a $238.00 price objective 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.
Several other brokerages have also weighed in on IFC. National Bankshares lowered their target price on shares of Intact Financial from C$250.00 to C$245.00 and set an "outperform" rating for the company in a research note on Thursday, February 15th. CIBC raised their price objective on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. BMO Capital Markets raised their price objective on shares of Intact Financial from C$230.00 to C$240.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Raymond James raised their price objective on shares of Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada raised their price objective on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$236.70.
Read Our Latest Stock Analysis on Intact Financial
Intact Financial Trading Up 0.7 %
IFC stock traded up C$1.45 during mid-day trading on Tuesday, hitting C$221.46. 364,555 shares of the company were exchanged, compared to its average volume of 308,472. 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 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 business has a fifty day simple moving average of C$222.37 and a 200-day simple moving average of C$210.33. Intact Financial has a 12-month low of C$188.22 and a 12-month high of C$237.25.
Intact Financial (TSE:IFC - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, topping the consensus estimate of C$3.44 by C$0.03. The company had revenue of C$6.53 billion during the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%.
Insider Activity at Intact Financial
In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the firm'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 transaction of C$1,583,589.00. 0.23% of the stock is owned by corporate insiders.
Intact Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.21 dividend. This is a boost from Intact Financial's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.84 annualized dividend and a yield of 2.19%. Intact Financial's dividend payout ratio (DPR) is 69.24%.
About Intact Financial
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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.
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