Cormark looks at Intact Financial Co.’s earnings for the third quarter of 2022 (TSE:IFC)


Intact Financial (EAST: IFCGet a rating) – Equity analysts Cormark raised their third-quarter 2022 earnings estimates for Intact Financial shares in a research note released to investors on Tuesday, August 2. Cormark analyst L. Persaud now expects the company to post earnings of $3.20 per share for the quarter, up from its previous estimate of $3.00. The consensus estimate of Intact Financial’s current earnings for the full year is $12.93 per share. Cormark also released Intact Financial earnings estimates for the first quarter of 2023 at $3.10 EPS, Q3 2023 earnings at $3.23 EPS and Q4 2023 earnings at $3.41 EPS.

Intact Financial (EAST: IFCGet a rating) last reported quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of C$2.53 for the quarter, beating the consensus estimate of C$2.43 by C$0.10. The company posted revenue of C$5.31 billion in the quarter, compared to analyst estimates of C$4.94 billion.

Several other equity research analysts also commented on IFC. Scotiabank raised its price target on shares of Intact Financial from C$195.00 to C$210.00 in a research report on Tuesday. Raymond James raised his target price on Intact Financial shares from C$206.00 to C$229.00 and gave the stock a “strong buy” rating in a research report on Tuesday. Barclays lowered its price target on Intact Financial shares from C$212.00 to C$208.00 and assigned the stock an “na” rating in a Tuesday, July 26 research report. TD Securities raised its price target on Intact Financial shares from C$215.00 to C$220.00 and gave the stock a “buy” rating in a Friday 29 research report. July. Finally, National Bankshares raised its price target on Intact Financial shares from C$227.00 to C$230.00 and gave the stock an “outperform” rating in a Friday 29 research report. July. Eight research analysts gave the stock a buy rating and two gave the stock a strong buy rating. According to data from MarketBeat.com, the company currently has a consensus buy rating and a consensus price target of C$214.21.

Intact Financial Stock Performance

Shares of IFC opened at C$189.94 on Thursday. The company has a debt ratio of 30.85, a quick ratio of 0.27 and a current ratio of 0.44. The stock has a market capitalization of C$33.34 billion and a P/E ratio of 13.13. The company’s fifty-day moving average is C$182.70 and its two-hundred-day moving average is C$180.95. Intact Financial has a 1 year minimum of C$158.00 and a 1 year maximum of C$191.56.

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, the 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 the protection of homes and their contents against risks, including fire, theft, vandalism, water damage and other damage, as well as coverage for civil liability; and property coverage for renters, condominium owners, non-owner occupied residences and seasonal residences.

Further reading

Earnings history and estimates for Intact Financial (TSE:IFC)



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