iA Financial Q3 EPS Forecast Cut by National Bank Financial

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at National Bank Financial dropped their Q3 2024 EPS estimates for iA Financial in a note issued to investors on Thursday, October 24th. National Bank Financial analyst G. Dechaine now expects that the company will post earnings of $2.61 per share for the quarter, down from their prior forecast of $2.63. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. National Bank Financial also issued estimates for iA Financial’s Q4 2024 earnings at $2.69 EPS and FY2025 earnings at $11.38 EPS.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. The firm had revenue of C$1.64 billion for the quarter.

A number of other research analysts have also recently commented on the stock. TD Securities boosted their target price on shares of iA Financial from C$110.00 to C$114.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. CIBC lifted their price target on shares of iA Financial from C$100.00 to C$106.00 in a research note on Thursday, August 8th. BMO Capital Markets lifted their price target on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. Scotiabank boosted their target price on shares of iA Financial from C$100.00 to C$110.00 in a research note on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on shares of iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$107.25.

iA Financial Trading Up 1.4 %

TSE IAG opened at C$114.53 on Monday. The company’s fifty day simple moving average is C$108.92 and its 200-day simple moving average is C$95.10. iA Financial has a 52 week low of C$78.31 and a 52 week high of C$119.25. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39. The stock has a market cap of C$10.90 billion, a P/E ratio of 15.33, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 23rd. iA Financial’s payout ratio is currently 43.91%.

About iA Financial

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.