Desjardins Forecasts TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC) – Analysts at Desjardins issued their FY2024 earnings per share (EPS) estimates for shares of Intact Financial in a note issued to investors on Wednesday, November 6th. Desjardins analyst D. Young expects that the company will post earnings of $13.50 per share for the year. Desjardins has a “Buy” rating and a $255.00 price objective on the stock. 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 $3.99 EPS.

Other research analysts also recently issued research reports about the company. Raymond James raised their price objective on Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. TD Securities boosted their price objective on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. CIBC increased their target price on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Cormark boosted their target price on shares of Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets increased their price target on shares of Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Stock Up 0.0 %

Shares of IFC stock opened at C$268.06 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. Intact Financial has a 12 month low of C$197.82 and a 12 month high of C$273.05. The stock has a market cap of C$47.81 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.01 and a beta of 0.57. The company has a 50 day simple moving average of C$260.73 and a two-hundred day simple moving average of C$244.27.

Insiders Place Their Bets

In other news, Senior Officer Marie-Lucie Paradis sold 565 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$266.23, for a total transaction of C$150,419.95. In related news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$255.00, for a total value of C$510,000.00. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of Intact Financial stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. Insiders sold a total of 4,565 shares of company stock valued at $1,168,179 over the last 90 days. Insiders own 0.24% of the company’s stock.

Intact Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, December 16th. Intact Financial’s dividend payout ratio (DPR) is currently 42.61%.

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.