Q2 2023 EPS Estimates for Intact Financial Co. Raised by National Bank Financial (TSE:IFC)

Intact Financial Co. (TSE:IFC – Get Rating) – Stock analysts at National Bank Financial raised their Q2 2023 earnings estimates for shares of Intact Financial in a research note issued on Monday, May 22nd. National Bank Financial analyst J. Gloyn now expects that the company will earn $3.17 per share for the quarter, up from their prior estimate of $3.03. The consensus estimate for Intact Financial’s current full-year earnings is $13.11 per share. National Bank Financial also issued estimates for Intact Financial’s Q3 2023 earnings at $3.22 EPS, Q4 2023 earnings at $3.67 EPS, FY2023 earnings at $13.12 EPS and FY2024 earnings at $13.74 EPS.

Several other brokerages also recently issued reports on IFC. Scotiabank increased their price objective on shares of Intact Financial from C$220.00 to C$225.00 in a research report on Friday, April 28th. TD Securities lowered their price objective on shares of Intact Financial from C$235.00 to C$225.00 and set a “buy” rating for the company in a research report on Wednesday, February 8th. Barclays lowered their price objective on shares of Intact Financial from C$235.00 to C$220.00 in a research report on Friday, April 28th. National Bankshares increased their target price on Intact Financial from C$240.00 to C$242.00 in a research note on Tuesday, May 2nd. Finally, Raymond James increased their target price on Intact Financial from C$229.00 to C$233.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intact Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$223.33.

Intact Financial Stock Up 0.3 %

IFC opened at C$200.62 on Wednesday. The firm has a 50 day moving average price of C$198.54 and a 200 day moving average price of C$197.57. The company has a market cap of C$35.16 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. Intact Financial has a 1 year low of C$172.04 and a 1 year high of C$209.57. The company has a debt-to-equity ratio of 35.06, a quick ratio of 0.28 and a current ratio of 0.40.

Insider Activity

In related news, Senior Officer Charles Brindamour sold 30,000 shares of Intact Financial stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of C$195.00, for a total transaction of C$5,850,000.00. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, June 14th. Intact Financial’s dividend payout ratio (DPR) is 34.19%.

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, Ireland, rest of Europe, and the Middle East. 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.