Raymond James Lowers Earnings Estimates for Intact Financial

Intact Financial Co. (TSE:IFC) – Stock analysts at Raymond James cut their FY2024 earnings per share estimates for Intact Financial in a research report issued to clients and investors on Tuesday, January 28th. Raymond James analyst S. Boland now anticipates that the company will earn $13.54 per share for the year, down from their previous estimate of $14.31. The consensus estimate for Intact Financial’s current full-year earnings is $16.17 per share. Raymond James also issued estimates for Intact Financial’s Q4 2024 earnings at $4.25 EPS, Q1 2025 earnings at $4.02 EPS, Q2 2025 earnings at $4.36 EPS, Q3 2025 earnings at $4.15 EPS, Q4 2025 earnings at $4.26 EPS and FY2025 earnings at $16.79 EPS.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 EPS for the quarter, topping the consensus estimate 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 period last year, the business earned $2.10 EPS.

Several other research analysts also recently commented on IFC. BMO Capital Markets raised their target price on Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. TD Securities lifted their price objective on shares of Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. Scotiabank raised their price target on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. National Bankshares upped their price objective on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. Finally, Cibc World Mkts cut Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Intact Financial has an average rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Price Performance

Shares of TSE IFC opened at C$258.15 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. The stock has a fifty day simple moving average of C$261.95 and a two-hundred day simple moving average of C$258.30. Intact Financial has a 1-year low of C$206.57 and a 1-year high of C$275.84. The firm has a market cap of C$46.04 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insiders Place Their Bets

In other news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total value of C$504,125.00. Also, Senior Officer Charles Brindamour sold 6,000 shares of the stock in a transaction 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. Over the last 90 days, insiders sold 8,865 shares of company stock worth $2,385,573. 0.24% of the stock is owned by corporate insiders.

Intact Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $1.21 dividend. The ex-dividend date was Monday, December 16th. This represents a $4.84 annualized dividend and a yield of 1.87%. Intact Financial’s payout ratio is 42.61%.

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.