National Bank Financial Comments on TSE:IFC FY2024 Earnings

Intact Financial Co. (TSE:IFC) – Investment analysts at National Bank Financial boosted their FY2024 earnings per share estimates for Intact Financial in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings per share of $13.66 for the year, up from their prior forecast of $12.54. 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 FY2026 earnings at $16.21 EPS.

Several other equities analysts have also issued reports on IFC. BMO Capital Markets raised their price objective on Intact Financial from C$275.00 to C$290.00 in a report on Thursday. TD Securities raised their price objective on Intact Financial from C$293.00 to C$300.00 in a report on Wednesday. CIBC raised their price objective on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Desjardins raised their price objective on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Raymond James raised their price objective on Intact Financial from C$264.00 to C$290.00 in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Stock Performance

Shares of IFC stock opened at C$263.97 on Friday. The stock’s 50-day moving average is C$259.90 and its two-hundred day moving average is C$243.33. The firm has a market cap of C$47.08 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.01 and a beta of 0.57. Intact Financial has a 1 year low of C$197.82 and a 1 year high of C$273.05. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$253.88, for a total value of C$507,759.00. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, December 16th. Intact Financial’s dividend payout ratio is currently 42.61%.

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.