Intercorp Financial Services (NYSE:IFS) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Intercorp Financial Services (NYSE:IFS – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.08, Zacks reports. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The business had revenue of $554.15 million for the quarter, compared to analysts’ expectations of $520.46 million.

Intercorp Financial Services Trading Down 1.4%

Shares of IFS stock traded down $0.79 on Wednesday, hitting $57.61. The stock had a trading volume of 4,969 shares, compared to its average volume of 280,075. Intercorp Financial Services has a twelve month low of $37.60 and a twelve month high of $61.38. The firm has a market cap of $6.40 billion, a P/E ratio of 10.75, a PEG ratio of 0.81 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $57.01 and a two-hundred day moving average price of $51.22.

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Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IFS. Mackenzie Financial Corp grew its stake in Intercorp Financial Services by 43.9% in the fourth quarter. Mackenzie Financial Corp now owns 13,158 shares of the company’s stock valued at $554,000 after acquiring an additional 4,014 shares during the period. XTX Topco Ltd bought a new stake in shares of Intercorp Financial Services in the fourth quarter worth about $455,000. Millennium Management LLC raised its position in shares of Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock worth $27,084,000 after purchasing an additional 255,753 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Intercorp Financial Services during the fourth quarter worth about $294,000. Finally, Armistice Capital LLC bought a new position in shares of Intercorp Financial Services during the 4th quarter valued at about $301,000.

Wall Street Analysts Forecast Growth

IFS has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Zacks Research raised Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. cut Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $56.00.

Check Out Our Latest Research Report on IFS

Intercorp Financial Services Company Profile

(Get Free Report)

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.

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