National Bank Financial Analysts Cut Earnings Estimates for Intact Financial Co. (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities research analysts at National Bank Financial lowered their Q3 2024 earnings estimates for Intact Financial in a report issued on Wednesday, July 31st. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of $2.47 for the quarter, down from their previous estimate of $3.39. The consensus estimate for Intact Financial’s current full-year earnings is $14.67 per share. National Bank Financial also issued estimates for Intact Financial’s Q4 2024 earnings at $4.11 EPS.

IFC has been the subject of a number of other reports. Raymond James boosted their target price on shares of Intact Financial from C$261.00 to C$269.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. TD Securities upped their price objective on Intact Financial from C$270.00 to C$282.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their target price on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. National Bankshares boosted their target price on Intact Financial from C$260.00 to C$265.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, CIBC lifted their price objective 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$260.18.

Intact Financial Stock Performance

Intact Financial stock opened at C$248.77 on Monday. The stock has a 50-day simple moving average of C$232.63 and a 200 day simple moving average of C$225.71. The stock has a market capitalization of C$44.36 billion, a price-to-earnings ratio of 28.84, a P/E/G ratio of 2.01 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. Intact Financial has a 12-month low of C$188.22 and a 12-month high of C$263.74.

Intact Financial (TSE:IFC) last announced its earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, topping the consensus estimate of C$3.43 by C$0.20. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. The company had revenue of C$7.06 billion for the quarter, compared to analysts’ expectations of C$8.33 billion.

Intact Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.21 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.84 dividend on an annualized basis and a yield of 1.95%. Intact Financial’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Louis Gagnon sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total transaction of C$2,295,607.00. In other news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of C$228.12, for a total value of C$501,861.80. Also, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total value of C$2,295,607.00. Over the last quarter, insiders have sold 32,500 shares of company stock valued at $7,377,706. 0.23% of the stock is currently owned by company insiders.

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.