Brokers Set Expectations for Intact Financial Co.’s Q3 2024 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities researchers at Raymond James cut their Q3 2024 earnings per share (EPS) estimates for shares of Intact Financial in a report issued on Wednesday, October 9th. Raymond James analyst S. Boland now expects that the company will earn $0.41 per share for the quarter, down from their prior forecast of $4.28. The consensus estimate for Intact Financial’s current full-year earnings is $15.77 per share. Raymond James also issued estimates for Intact Financial’s FY2024 earnings at $13.56 EPS.

Other analysts have also issued research reports about the stock. CIBC boosted their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Scotiabank decreased their target price on Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. TD Securities raised their target price on Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. National Bankshares raised their target price on Intact Financial from C$260.00 to C$265.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group dropped their target price on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$263.90.

Intact Financial Trading Up 0.8 %

Shares of TSE IFC opened at C$266.07 on Monday. Intact Financial has a 52-week low of C$188.27 and a 52-week high of C$267.19. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The stock has a market capitalization of C$47.46 billion, a P/E ratio of 23.44, a PEG ratio of 2.01 and a beta of 0.57. The stock’s 50 day moving average price is C$254.45 and its two-hundred day moving average price is C$237.91.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$3.61 by C$1.25. The business had revenue of C$7.07 billion for the quarter, compared to analyst estimates of C$7.64 billion. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%.

Intact Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Friday, September 13th. Intact Financial’s dividend payout ratio is currently 42.64%.

Insider Activity

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$253.88, for a total transaction of C$507,759.00. 0.24% of the stock is currently owned by corporate insiders.

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.