Intact Financial Co. (TSE:IFC) to Post Q3 2024 Earnings of $0.41 Per Share, Raymond James Forecasts

Intact Financial Co. (TSE:IFC) – Investment analysts at Raymond James dropped their Q3 2024 earnings per share estimates for shares of Intact Financial in a research note issued to investors on Wednesday, October 9th. Raymond James analyst S. Boland now forecasts that the company will post earnings of $0.41 per share for the quarter, down from their previous forecast of $4.28. The consensus estimate for Intact Financial’s current full-year earnings is $15.77 per share. Raymond James also issued estimates for Intact Financial’s FY2024 earnings at $13.56 EPS.

Intact Financial (TSE:IFC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$4.86 EPS for the quarter, beating the consensus estimate of C$3.61 by C$1.25. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. The company had revenue of C$7.07 billion during the quarter, compared to analysts’ expectations of C$7.64 billion.

Several other equities research analysts have also issued reports on IFC. TD Securities upped their price target on Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Desjardins upped their price objective on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Scotiabank decreased their price target on Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. BMO Capital Markets increased their price target on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. Finally, Jefferies Financial Group decreased their price target on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$263.90.

Intact Financial Stock Performance

Shares of IFC opened at C$264.00 on Monday. The business’s 50 day moving average is C$253.72 and its two-hundred day moving average is C$237.28. Intact Financial has a 52-week low of C$188.27 and a 52-week high of C$265.10. The firm has a market cap of C$47.09 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.01 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26.

Insider Activity

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial 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. Insiders own 0.24% of the company’s stock.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.21 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.84 annualized dividend and a dividend yield of 1.83%. Intact Financial’s dividend payout ratio (DPR) is currently 42.64%.

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.