Desjardins Has Positive Forecast for TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC) – Equities research analysts at Desjardins upped their FY2024 earnings estimates for shares of Intact Financial in a research note issued to investors on Monday, February 3rd. Desjardins analyst D. Young now forecasts that the company will earn $13.66 per share for the year, up from their previous forecast of $13.50. 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 $4.15 EPS, FY2025 earnings at $16.25 EPS and FY2026 earnings at $17.30 EPS.

IFC has been the topic of several other reports. Cibc World Mkts lowered Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Scotiabank upped their target price on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. National Bankshares upped their price objective on Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. Finally, TD Securities upped their price target on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Trading Up 1.7 %

Shares of IFC stock opened at C$275.05 on Wednesday. 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$206.57 and a 1-year high of C$276.52. The business has a 50-day moving average of C$261.40 and a 200 day moving average of C$258.96. The stock has a market capitalization of C$49.06 billion, a PE ratio of 24.21, a P/E/G ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $2.10 EPS.

Insider Buying and Selling

In other news, Senior Officer Frédéric Cotnoir sold 450 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of C$266.73, for a total transaction of C$120,028.50. Also, Senior Officer Charles Brindamour sold 6,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total transaction of C$1,611,000.00. Insiders sold a total of 8,865 shares of company stock valued at $2,385,573 over the last three months. 0.24% 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.