FY2024 EPS Estimates for Intact Financial Boosted by Cormark

Intact Financial Co. (TSE:IFC) – Analysts at Cormark lifted their FY2024 EPS estimates for Intact Financial in a note issued to investors on Wednesday, November 6th. Cormark analyst L. Persaud now anticipates that the company will earn $13.70 per share for the year, up from their prior estimate of $13.04. Cormark currently has a “Buy” rating and a $260.00 price target on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $16.17 per share.

IFC has been the subject of several other reports. Desjardins increased their price objective on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank raised their price objective on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday. CIBC upped their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Raymond James lifted their price target on shares of Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday. Finally, BMO Capital Markets upped their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intact Financial presently has a consensus rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Stock Performance

Intact Financial stock opened at C$266.23 on Friday. The firm has a 50 day simple moving average of C$260.44 and a 200-day simple moving average of C$243.63. The stock has a market cap of C$47.48 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. Intact Financial has a 1-year low of C$197.82 and a 1-year high of C$273.05.

Intact Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend yield of 1.82%. The ex-dividend date is Monday, December 16th. Intact Financial’s dividend payout ratio is presently 42.61%.

Insider Activity

In related news, Senior Officer Kenneth Anderson sold 2,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$253.88, for a total value of C$507,759.00. Company insiders own 0.24% of the company’s stock.

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.