Desjardins Research Analysts Lower Earnings Estimates for iA Financial Co. Inc. (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Analysts at Desjardins dropped their Q3 2024 earnings per share estimates for shares of iA Financial in a research note issued to investors on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the company will earn $2.62 per share for the quarter, down from their prior estimate of $2.66. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Desjardins also issued estimates for iA Financial’s FY2024 earnings at $10.48 EPS.

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

Several other research analysts have also issued reports on the company. CIBC increased their target price on iA Financial from C$100.00 to C$106.00 in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research report on Thursday, August 8th. BMO Capital Markets raised their price objective on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. TD Securities raised their price objective on iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Scotiabank raised their price objective on iA Financial from C$100.00 to C$110.00 in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, iA Financial currently has an average rating of “Moderate Buy” and an average target price of C$105.25.

iA Financial Stock Up 1.4 %

Shares of TSE:IAG opened at C$117.37 on Monday. iA Financial has a 52-week low of C$77.61 and a 52-week high of C$117.61. The firm has a market capitalization of C$11.17 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.26 and a beta of 1.13. The stock has a 50 day moving average price of C$103.69 and a 200-day moving average price of C$92.68. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22.

iA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 23rd were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.79%. iA Financial’s dividend payout ratio (DPR) is currently 43.91%.

iA Financial Company Profile

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.