Desjardins Has Positive Outlook for TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC) – Analysts at Desjardins lifted their FY2024 earnings per share (EPS) estimates for Intact Financial in a research report issued on Monday, February 3rd. Desjardins analyst D. Young now anticipates that the company will post earnings of $13.66 per share for the year, up from their previous estimate of $13.50. The consensus estimate for Intact Financial’s current full-year earnings is $16.17 per share. Desjardins also issued estimates for Intact Financial’s Q4 2024 earnings at $4.15 EPS, FY2025 earnings at $16.25 EPS and FY2026 earnings at $17.30 EPS.

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 net margin of 7.14% and a return on equity of 12.93%. During the same quarter last year, the company earned $2.10 earnings per share.

A number of other research firms also recently weighed in on IFC. BMO Capital Markets upped their target price on Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. TD Securities increased their price objective on Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. Raymond James boosted their target price on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Cibc World Mkts cut shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, National Bankshares raised their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Price Performance

Shares of Intact Financial stock opened at C$270.50 on Wednesday. The company has a market cap of C$48.25 billion, a PE ratio of 23.81, a P/E/G ratio of 2.01 and a beta of 0.57. The business has a 50 day moving average of C$261.36 and a 200 day moving average of C$258.74. Intact Financial has a 52 week low of C$206.57 and a 52 week high of C$275.84. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26.

Insiders Place Their Bets

In related news, Senior Officer Frédéric Cotnoir sold 450 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of C$266.73, for a total value of C$120,028.50. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. In the last 90 days, insiders sold 8,865 shares of company stock valued at $2,385,573. 0.24% of the stock is owned by 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.