What is Cormark’s Estimate for iA Financial FY2024 Earnings?

iA Financial Co. Inc. (TSE:IAG) – Stock analysts at Cormark boosted their FY2024 EPS estimates for shares of iA Financial in a report released on Tuesday, February 4th. Cormark analyst L. Persaud now anticipates that the company will post earnings of $10.93 per share for the year, up from their previous estimate of $10.84. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Cormark also issued estimates for iA Financial’s FY2025 earnings at $12.10 EPS and FY2026 earnings at $13.13 EPS.

Several other research analysts also recently issued reports on IAG. BMO Capital Markets upped their price target on shares of iA Financial from C$126.00 to C$140.00 in a research report on Thursday, November 7th. TD Securities upped their target price on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. National Bankshares raised their price target on shares of iA Financial from C$118.00 to C$121.00 in a report on Wednesday, November 6th. CIBC upped their price objective on iA Financial from C$143.00 to C$144.00 in a report on Thursday, January 30th. Finally, Scotiabank cut iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$129.88.

iA Financial Price Performance

TSE:IAG opened at C$130.53 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. The firm has a market cap of C$12.42 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. iA Financial has a 12 month low of C$80.95 and a 12 month high of C$138.01. The company’s 50-day moving average price is C$132.60 and its two-hundred day moving average price is C$116.90.

iA Financial (TSE:IAG) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share for the quarter, beating the consensus estimate of C$2.63 by C$0.30. iA Financial had a return on equity of 10.51% and a net margin of 9.02%.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Pierre Miron sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Also, Senior Officer Alain Bergeron sold 2,750 shares of iA Financial stock in a transaction that occurred on Thursday, November 28th. The shares were sold at an average price of C$134.00, for a total transaction of C$368,500.00. Following the completion of the sale, the insider now owns 500 shares in the company, valued at C$67,000. This trade represents a 84.62 % decrease in their ownership of the stock. Insiders have sold 49,810 shares of company stock worth $6,601,270 in the last ninety days. Company insiders own 0.09% of the company’s stock.

iA Financial Company Profile

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.