What is Cormark’s Estimate for iA Financial FY2024 Earnings?

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at Cormark lifted their FY2024 earnings per share estimates for shares of iA Financial in a report released on Tuesday, February 4th. Cormark analyst L. Persaud now forecasts that the company will post earnings of $10.93 per share for the year, up from their previous forecast of $10.84. 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 $12.10 EPS and FY2026 earnings at $13.13 EPS.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.30. iA Financial had a return on equity of 10.51% and a net margin of 9.02%.

IAG has been the subject of a number of other reports. CIBC lifted their price target on shares of iA Financial from C$143.00 to C$144.00 in a research note on Thursday, January 30th. Royal Bank of Canada downgraded shares of iA Financial from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$105.00 to C$137.00 in a research report on Thursday, November 7th. BMO Capital Markets upped their price target on shares of iA Financial from C$126.00 to C$140.00 in a research report on Thursday, November 7th. TD Securities upped their target price on shares of iA Financial from C$132.00 to C$135.00 in a report on Wednesday, November 6th. Finally, National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, iA Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$129.88.

iA Financial Price Performance

TSE IAG opened at C$130.62 on Wednesday. iA Financial has a one year low of C$80.95 and a one year high of C$138.01. The stock has a 50-day moving average of C$132.64 and a 200 day moving average of C$116.59. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. The company has a market capitalization of C$12.43 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.26 and a beta of 1.13.

Insider Activity

In related news, Senior Officer Alain Bergeron sold 510 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$133.58, for a total transaction of C$68,125.80. Also, Senior Officer Pierre Miron sold 15,000 shares of iA Financial stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Insiders have sold 58,010 shares of company stock valued at $7,675,070 over the last ninety days. 0.09% of the stock is currently owned by insiders.

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.