Desjardins Analysts Reduce Earnings Estimates for Intact Financial Co. (IFC)
Intact Financial Co. (TSE:IFC) – Stock analysts at Desjardins decreased their Q4 2017 EPS estimates for Intact Financial in a research report issued to clients and investors on Wednesday. Desjardins analyst D. Young now expects that the company will earn $1.68 per share for the quarter, down from their previous forecast of $1.87. Desjardins currently has a “Sell” rating and a $100.00 target price on the stock. Desjardins also issued estimates for Intact Financial’s FY2018 earnings at $7.20 EPS.
A number of other brokerages have also recently weighed in on IFC. CIBC cut Intact Financial from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from C$106.00 to C$113.00 in a research note on Friday, October 27th. TD Securities upped their price objective on Intact Financial from C$105.00 to C$110.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Raymond James Financial, Inc. upgraded Intact Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$104.00 to C$110.00 in a research note on Thursday, October 19th. BMO Capital Markets set a C$110.00 price target on Intact Financial and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Finally, Barclays PLC increased their price target on Intact Financial from C$100.00 to C$109.00 in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Intact Financial has an average rating of “Hold” and a consensus price target of C$108.70.
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Shares of Intact Financial (TSE IFC) opened at C$103.39 on Friday. Intact Financial has a 12 month low of C$91.40 and a 12 month high of C$108.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, December 14th. Intact Financial’s payout ratio is 46.13%.
In other news, insider Jean-François Desautels sold 1,420 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of C$99.51, for a total value of C$141,304.20.
Intact Financial Company Profile
Intact Financial Corporation is a holding company, which provides property and casualty (P&C) insurance. The Company operates through P&C insurance operations segment. It offers a range of car, home and business insurance products, including personal auto, personal property, commercial P&C and commercial auto.
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