Brokers Issue Forecasts for iA Financial FY2024 Earnings

iA Financial Co. Inc. (TSE:IAG) – National Bank Financial upped their FY2024 earnings per share (EPS) estimates for iA Financial in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst G. Dechaine now expects that the company will post earnings of $10.90 per share for the year, up from their prior forecast of $10.49. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. National Bank Financial also issued estimates for iA Financial’s Q4 2024 earnings at $2.80 EPS and FY2025 earnings at $11.80 EPS.

iA Financial (TSE:IAG) last announced its earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. The company had revenue of C$1.64 billion during the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%.

Other equities research analysts also recently issued reports about the stock. Cormark increased their price objective on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research note on Thursday, August 8th. CIBC increased their price objective on iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank upped their target price on iA Financial from C$110.00 to C$126.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Securities raised their price target on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, iA Financial has an average rating of “Moderate Buy” and a consensus price target of C$117.13.

iA Financial Stock Up 16.2 %

Shares of TSE:IAG opened at C$133.65 on Thursday. The firm’s 50-day moving average is C$111.27 and its two-hundred day moving average is C$96.70. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$134.29. The firm has a market capitalization of C$12.72 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.