Cormark Has Bullish Estimate for TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC - Free Report) - Investment analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of Intact Financial in a report released on Wednesday, November 6th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $13.70 for the year, up from their previous estimate of $13.04. Cormark has a "Buy" rating and a $260.00 price objective on the stock. The consensus estimate for Intact Financial's current full-year earnings is $16.17 per share.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets raised their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a research note on Thursday. TD Securities upped their target price on Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday. Raymond James boosted their price target on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday. Scotiabank raised their price objective on Intact Financial from C$281.00 to C$283.00 in a report on Thursday. Finally, Jefferies Financial Group reduced their target price on shares of Intact Financial from C$264.00 to C$262.00 and set a "hold" rating for the company in a research report on Thursday, August 22nd. Two analysts have 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 stock presently has an average rating of "Moderate Buy" and an average price target of C$274.90.

Intact Financial Stock Performance

Intact Financial stock traded up C$2.26 during midday trading on Friday, hitting C$266.23. 218,520 shares of the company were exchanged, compared to its average volume of 286,837. The business has a fifty day simple moving average of C$259.90 and a two-hundred day simple moving average of C$243.33. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The firm has a market capitalization of C$47.48 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. Intact Financial has a fifty-two week low of C$197.82 and a fifty-two week high of C$273.05.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of the business's 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 owned by corporate insiders.

Intact Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $1.21 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.84 annualized dividend and a yield of 1.82%. Intact Financial's dividend payout ratio (DPR) is 42.61%.

Intact Financial Company Profile

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.