FY2024 Earnings Estimate for Intact Financial Co. Issued By Cormark (TSE:IFC)

Intact Financial Co. (TSE:IFC - Free Report) - Research analysts at Cormark raised their FY2024 earnings estimates for shares of Intact Financial in a note issued to investors on Wednesday, May 1st. Cormark analyst L. Persaud now expects that the company will post earnings per share of $14.71 for the year, up from their prior estimate of $14.53. The consensus estimate for Intact Financial's current full-year earnings is $14.47 per share.

Intact Financial (TSE:IFC - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, topping analysts' consensus estimates of C$3.44 by C$0.03. The business had revenue of C$6.53 billion for the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%.

Several other equities analysts have also issued reports on the stock. National Bankshares lifted their price objective on shares of Intact Financial from C$245.00 to C$247.00 and gave the company an "outperform" rating in a report on Tuesday. BMO Capital Markets lifted 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 report on Thursday, February 15th. Desjardins lifted their price objective on shares of Intact Financial from C$235.00 to C$238.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Royal Bank of Canada lifted their price objective on shares of Intact Financial from C$229.00 to C$236.00 and gave the company a "sector perform" rating in a report on Monday. Finally, Scotiabank lifted their price target on shares of Intact Financial from C$256.00 to C$261.00 in a report on Friday, April 26th. One investment 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 has a consensus rating of "Moderate Buy" and a consensus target price of C$240.11.

Intact Financial Trading Down 0.2 %

Shares of TSE:IFC traded down C$0.47 during trading on Thursday, reaching C$228.40. 194,057 shares of the company were exchanged, compared to its average volume of 299,603. The firm has a market capitalization of C$40.73 billion, a PE ratio of 32.68, a P/E/G ratio of 2.01 and a beta of 0.54. The business's fifty day simple moving average is C$223.54 and its 200-day simple moving average is C$212.42. Intact Financial has a 12-month low of C$188.22 and a 12-month high of C$237.25. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28.

Intact Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Intact Financial's previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. Intact Financial's dividend payout ratio (DPR) is presently 69.24%.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction 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. Company insiders own 0.23% of the company's stock.

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. 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.