Intact Financial (OTCMKTS:IFCZF) Shares Gap Down on Disappointing Earnings

Shares of Intact Financial Co. (OTCMKTS:IFCZF) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $210.29, but opened at $190.02. Intact Financial shares last traded at $197.77, with a volume of 50 shares changing hands.

The company reported $2.29 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.15). Intact Financial had a net margin of 12.02% and a return on equity of 19.25%. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.22 billion.

Wall Street Analyst Weigh In

IFCZF has been the subject of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Intact Financial in a report on Wednesday, May 6th. Barclays restated an “overweight” rating on shares of Intact Financial in a report on Wednesday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Intact Financial in a research report on Friday, July 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Intact Financial in a report on Friday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Intact Financial Stock Performance

The company has a 50-day simple moving average of $203.08 and a two-hundred day simple moving average of $193.24. The firm has a market capitalization of $34.88 billion and a P/E ratio of 14.55.

Intact Financial Company Profile

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.