Intact Financial Co. (TSE:IFC) to Post FY2024 Earnings of $15.75 Per Share, Desjardins Forecasts

Intact Financial Co. (TSE:IFC) – Investment analysts at Desjardins lifted their FY2024 earnings estimates for shares of Intact Financial in a research report issued on Wednesday, July 31st. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $15.75 for the year, up from their previous forecast of $14.87. Desjardins has a “Buy” rating and a $255.00 price target on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $14.67 per share. Desjardins also issued estimates for Intact Financial’s FY2025 earnings at $16.00 EPS.

Intact Financial (TSE:IFC) last announced its earnings results on Tuesday, May 7th. The company reported C$3.63 earnings per share for the quarter, beating the consensus estimate of C$3.43 by C$0.20. The firm had revenue of C$7.06 billion during the quarter, compared to the consensus estimate of C$8.33 billion. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%.

Other analysts have also issued reports about the stock. Scotiabank raised their price target on shares of Intact Financial from C$264.00 to C$272.00 in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Cormark raised their price objective on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities boosted their price objective on Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, CIBC lifted their price target on shares of Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$260.18.

Intact Financial Stock Down 2.3 %

IFC opened at C$245.02 on Friday. The business has a 50 day moving average of C$231.92 and a 200-day moving average of C$224.79. The stock has a market capitalization of C$43.69 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.01 and a beta of 0.53. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 32.83. Intact Financial has a 1-year low of C$188.22 and a 1-year high of C$263.74.

Insider Transactions at Intact Financial

In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total value of C$2,230,768.00. In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. Also, Senior Officer Louis Marcotte sold 300 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of C$228.61, for a total transaction of C$68,583.00. Insiders have sold 32,500 shares of company stock valued at $7,377,706 in the last three months. 0.23% of the stock is owned by corporate insiders.

Intact Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, September 13th. Intact Financial’s payout ratio is 56.21%.

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.