Q3 2023 EPS Estimates for Intact Financial Co. (TSE:IFC) Decreased by Cormark

Posted by on Sep 11th, 2023

Intact Financial Co. (TSE:IFC – Free Report) – Stock analysts at Cormark dropped their Q3 2023 earnings per share (EPS) estimates for Intact Financial in a research report issued on Thursday, September 7th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $1.43 for the quarter, down from their prior estimate of $3.42. The consensus estimate for Intact Financial’s current full-year earnings is $13.95 per share. Cormark also issued estimates for Intact Financial’s Q4 2023 earnings at $3.32 EPS, FY2023 earnings at $10.11 EPS, Q1 2024 earnings at $3.17 EPS, Q2 2024 earnings at $3.10 EPS, Q3 2024 earnings at $3.56 EPS, Q4 2024 earnings at $3.49 EPS and FY2024 earnings at $13.31 EPS.

Intact Financial (TSE:IFC – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported C$2.30 EPS for the quarter, missing analysts’ consensus estimates of C$2.54 by C($0.24). Intact Financial had a return on equity of 8.51% and a net margin of 6.67%. The company had revenue of C$5.49 billion for the quarter.

Several other equities analysts have also recently issued reports on IFC. Scotiabank reduced their price objective on Intact Financial from C$225.00 to C$210.00 and set an “outperform” rating for the company in a report on Monday, July 24th. Raymond James lowered their price objective on shares of Intact Financial from C$224.00 to C$221.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 11th. TD Securities cut their target price on shares of Intact Financial from C$225.00 to C$220.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. UBS Group dropped their price objective on shares of Intact Financial from C$210.00 to C$207.00 in a research note on Thursday, August 10th. Finally, Royal Bank of Canada reduced their target price on Intact Financial from C$230.00 to C$227.00 and set an “outperform” rating on the stock in a research note on Friday, September 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$219.33.

Read Our Latest Research Report on Intact Financial

Intact Financial Price Performance

IFC stock opened at C$193.25 on Monday. The company has a market cap of C$33.87 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 2.01 and a beta of 0.57. The company has a current ratio of 0.39, a quick ratio of 0.28 and a debt-to-equity ratio of 35.29. The firm has a 50 day moving average of C$196.19 and a 200-day moving average of C$197.22. Intact Financial has a 12-month low of C$182.01 and a 12-month high of C$209.57.

Intact Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, September 14th. Intact Financial’s dividend payout ratio (DPR) is 61.62%.

Intact Financial Company Profile

(Get Free Report)

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. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner-occupied residences, and seasonal residences, as well as travel insurance.

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Earnings History and Estimates for Intact Financial (TSE:IFC)

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