Intact Financial (TSE:IFC) Announces Quarterly Earnings Results

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

Intact Financial Trading Down 6.6%

Shares of TSE:IFC opened at C$284.80 on Thursday. The company has a market cap of C$50.35 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.01 and a beta of 0.29. The stock’s 50-day moving average is C$285.54 and its 200-day moving average is C$267.53. Intact Financial has a 52-week low of C$242.87 and a 52-week high of C$310.84. The company has a debt-to-equity ratio of 23.33, a quick ratio of 0.28 and a current ratio of 1.69.

Analyst Ratings Changes

A number of research analysts have recently commented on IFC shares. Barclays lowered their price objective on Intact Financial from C$352.00 to C$344.00 and set an “overweight” rating on the stock in a report on Wednesday. Desjardins reduced their target price on Intact Financial from C$305.00 to C$300.00 and set a “buy” rating for the company in a report on Monday, April 27th. Raymond James Financial decreased their target price on Intact Financial from C$310.00 to C$305.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. TD lowered their price target on Intact Financial from C$347.00 to C$345.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Intact Financial from C$288.00 to C$314.00 in a research report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Intact Financial has a consensus rating of “Moderate Buy” and an average price target of C$329.91.

About Intact Financial

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.