Q1 2018 Earnings Forecast for Intact Financial Co. (TSE:IFC) Issued By Cormark
Intact Financial Co. (TSE:IFC) – Research analysts at Cormark dropped their Q1 2018 earnings per share estimates for shares of Intact Financial in a report issued on Thursday. Cormark analyst M. Grauman now forecasts that the company will earn $1.09 per share for the quarter, down from their previous estimate of $1.43. Cormark also issued estimates for Intact Financial’s Q2 2018 earnings at $2.16 EPS, Q4 2018 earnings at $2.14 EPS, FY2018 earnings at $7.37 EPS and FY2019 earnings at $7.78 EPS.
IFC has been the topic of several other reports. Scotiabank lifted their price objective on shares of Intact Financial from C$105.00 to C$107.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Desjardins reiterated a “hold” rating on shares of Intact Financial in a research report on Thursday, May 11th. TD Securities reiterated a “hold” rating and issued a C$97.00 price objective on shares of Intact Financial in a research report on Tuesday, July 4th. Barclays PLC reiterated an “overweight” rating and issued a C$100.00 price objective on shares of Intact Financial in a research report on Thursday, May 11th. Finally, Raymond James Financial, Inc. lifted their price objective on shares of Intact Financial from C$102.00 to C$104.00 and gave the company a “market perform” rating in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of C$102.20.
Intact Financial (TSE:IFC) traded down 0.17% on Monday, reaching $98.62. 57,768 shares of the company traded hands. The company has a 50-day moving average price of $96.58 and a 200-day moving average price of $94.80. Intact Financial has a 12 month low of $90.00 and a 12 month high of $99.88. The company has a market capitalization of $12.92 billion and a P/E ratio of 19.40.
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 given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Intact Financial’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th.
In related news, insider Lucie Martel purchased 3,215 shares of the company’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of C$93.42 per share, for a total transaction of C$300,345.30.
About Intact Financial
Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada. It primarily underwrites automobile, home, and commercial property and casualty insurance contracts. The company distributes its services through a network of independent insurance brokers, as well as sells directly to consumers through call centers and the Internet.
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