Intact Financial (TSE:IFC) Posts Quarterly Earnings Results

Intact Financial (TSE:IFC) released its quarterly earnings data on Tuesday. The company reported C$4.33 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$5.94 billion for the quarter. Intact Financial had a net margin of 12.76% and a return on equity of 16.93%.

Intact Financial Stock Up 2.3%

IFC stock opened at C$305.00 on Wednesday. The firm has a 50-day moving average price of C$285.32 and a 200-day moving average price of C$267.49. Intact Financial has a 12 month low of C$242.87 and a 12 month high of C$310.84. The company has a current ratio of 1.69, a quick ratio of 0.28 and a debt-to-equity ratio of 23.33. The stock has a market capitalization of C$53.92 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.29.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. National Bank Financial raised their target price on shares of Intact Financial from C$372.00 to C$379.00 and gave the stock an “outperform” rating in a research note on Monday. Canadian Imperial Bank of Commerce increased their price target on shares of Intact Financial from C$288.00 to C$314.00 in a report on Friday, July 10th. Barclays raised their price objective on shares of Intact Financial from C$322.00 to C$327.00 in a research report on Wednesday, May 6th. Jefferies Financial Group upped their target price on Intact Financial from C$343.00 to C$351.00 and gave the company a “buy” rating in a research report on Monday. Finally, TD lowered their target price on Intact Financial from C$354.00 to C$347.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$328.55.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space. Intact directly manages its investments through subsidiary Intact Investment Management. The vast majority of these invested assets are fixed-income securities.