11:57 AM EST, 11/06/2024 (MT Newswires) -- Intact Financial ( IFCZF ) reported operating EPS of $1.01, significantly above consensus of -$0.06 (NBF -$0.05)

According to National Bank analyst Jaeme Gloyn, Intact reported a "very resilient quarter," given an ROE of 16% (LTM) despite huge catastrophe losses (22%-points). The EPS beat was driven by excellent underwriting, excluding catastrophe losses, as the current year loss ratio of 55% improved from 57% last year. The combined of 104% beat the street at 108%, as all lines outperformed.

Target lifted to $296 (from $294). Maintain Outperform.

Price: 261.51, Change: -10.30, Percent Change: -3.79