FY2024 Earnings Estimate for iA Financial Issued By Cormark

iA Financial Co. Inc. (TSE:IAG) – Equities research analysts at Cormark raised their FY2024 earnings estimates for shares of iA Financial in a note issued to investors on Wednesday, November 6th. Cormark analyst L. Persaud now expects that the company will post earnings of $10.84 per share for the year, up from their previous forecast of $10.54. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Cormark also issued estimates for iA Financial’s FY2025 earnings at $12.05 EPS.

IAG has been the subject of a number of other research reports. National Bankshares boosted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a report on Wednesday. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. TD Securities boosted their price objective on shares of iA Financial from C$132.00 to C$135.00 in a report on Wednesday. Scotiabank lifted their price target on shares of iA Financial from C$126.00 to C$143.00 in a research note on Thursday. Finally, Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$128.50.

iA Financial Stock Down 2.4 %

Shares of TSE IAG opened at C$130.39 on Friday. The stock has a market cap of C$12.41 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.26 and a beta of 1.13. The firm has a 50 day moving average price of C$111.83 and a 200 day moving average price of C$97.04. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. iA Financial has a 52-week low of C$80.95 and a 52-week high of C$134.29.

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

iA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, November 22nd. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s payout ratio is currently 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.