FY2024 EPS Forecast for Intact Financial Lifted by Analyst

Intact Financial Co. (TSE:IFC) – Investment analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for shares of Intact Financial in a research report issued on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings of $13.80 per share for the year, up from their prior forecast of $13.66. The consensus estimate for Intact Financial’s current full-year earnings is $16.17 per share. National Bank Financial also issued estimates for Intact Financial’s Q4 2024 earnings at $4.31 EPS and FY2026 earnings at $16.40 EPS.

Several other research firms have also recently issued reports on IFC. Cibc World Mkts cut Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. TD Securities increased their price objective on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. Scotiabank boosted their target price on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. Raymond James lifted their price target on shares of Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised their target price on shares of Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Stock Performance

Shares of IFC opened at C$261.57 on Tuesday. 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 business’s 50 day moving average price is C$261.47 and its 200-day moving average price is C$258.59. Intact Financial has a 52 week low of C$206.57 and a 52 week high of C$275.84. The stock has a market cap of C$46.65 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same quarter in the prior year, the business posted $2.10 EPS.

Insider Activity at Intact Financial

In other news, Senior Officer Charles Brindamour sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$266.23, for a total value of C$150,419.95. Insiders have sold 8,865 shares of company stock valued at $2,385,573 in the last ninety days. Corporate insiders own 0.24% 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.