Q3 2024 EPS Estimates for iA Financial Co. Inc. Reduced by Analyst (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at Desjardins decreased their Q3 2024 EPS estimates for iA Financial in a research report issued to clients and investors on Wednesday, October 9th. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $2.62 for the quarter, down from their prior estimate of $2.66. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Desjardins also issued estimates for iA Financial’s FY2024 earnings at $10.48 EPS.

A number of other brokerages also recently weighed in on IAG. BMO Capital Markets raised their target price on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a report on Thursday, August 8th. Scotiabank increased their target price on iA Financial from C$100.00 to C$110.00 in a research note on Thursday, August 8th. TD Securities increased their price objective on iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, CIBC boosted their target price on iA Financial from C$100.00 to C$106.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$105.25.

iA Financial Price Performance

Shares of TSE IAG opened at C$117.54 on Monday. The stock’s 50-day simple moving average is C$104.72 and its two-hundred day simple moving average is C$93.11. iA Financial has a twelve month low of C$77.61 and a twelve month high of C$117.93. The firm has a market capitalization of C$11.18 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.26 and a beta of 1.13. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share for the quarter, topping the consensus estimate of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion for the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%.

iA Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, August 23rd. iA Financial’s payout ratio is 43.91%.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.