Equities Analysts Set Expectations for Intact Financial Co.’s Q3 2023 Earnings (TSE:IFC)

Posted by on Sep 11th, 2023

Intact Financial Co. (TSE:IFC – Free Report) – Equities researchers at Raymond James dropped their Q3 2023 earnings estimates for Intact Financial in a note issued to investors on Thursday, September 7th. Raymond James analyst S. Boland now anticipates that the company will post earnings of $1.49 per share for the quarter, down from their previous forecast of $3.26. Raymond James currently has a “Outperform” rating and a $221.00 target price on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $13.95 per share. Raymond James also issued estimates for Intact Financial’s Q4 2023 earnings at $3.63 EPS, FY2023 earnings at $10.48 EPS, Q1 2024 earnings at $3.13 EPS and Q2 2024 earnings at $3.45 EPS.

Intact Financial (TSE:IFC – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported C$2.30 EPS for the quarter, missing the consensus estimate 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 during the quarter.

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

Get Our Latest Report on IFC

Intact Financial Price Performance

IFC stock opened at C$193.25 on Monday. The firm has a 50 day moving average of C$196.19 and a 200-day moving average of C$197.22. The firm has a market capitalization of C$33.87 billion, a P/E ratio of 27.07, a price-to-earnings-growth 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. Intact Financial has a 12 month low of C$182.01 and a 12 month high of C$209.57.

Intact Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 yield of 2.28%. The ex-dividend date is Thursday, September 14th. Intact Financial’s dividend payout ratio is presently 61.62%.

About Intact Financial

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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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