National Bank Financial Weighs in on TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC) – National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Intact Financial in a research report issued on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings per share of $13.80 for the year, up from their previous forecast of $13.66. The consensus estimate for Intact Financial’s current full-year earnings is $16.17 per share. National Bank Financial also issued estimates for Intact Financial’s Q4 2024 earnings at $4.31 EPS and FY2026 earnings at $16.40 EPS.

IFC has been the topic of several other reports. BMO Capital Markets increased their price target on shares of Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. Cibc World Mkts downgraded Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Raymond James upped their price objective on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Scotiabank lifted their price objective on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. Finally, National Bankshares boosted their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Intact Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Stock Performance

TSE:IFC opened at C$270.50 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. The company has a market capitalization of C$48.25 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm has a 50-day moving average price of C$261.36 and a two-hundred day moving average price of C$258.74. Intact Financial has a twelve month low of C$206.57 and a twelve month high of C$275.84.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same quarter in the prior year, the firm posted $2.10 earnings per share.

Insider Activity

In related news, Senior Officer Charles Brindamour sold 6,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Darren Christopher Godfrey sold 1,850 shares of Intact Financial stock in a transaction on Friday, December 6th. The shares were sold at an average price of C$272.50, for a total value of C$504,125.00. Insiders sold a total of 8,865 shares of company stock valued at $2,385,573 in the last 90 days. 0.24% of the stock is currently owned by 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.