Definity Financial Co. (TSE:DFY) Receives C$52.60 Consensus Price Target from Analysts

Definity Financial Co. (TSE:DFY) has been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$52.60.

Several equities research analysts have recently weighed in on the company. Raymond James increased their price target on Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. National Bankshares increased their price target on Definity Financial from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Royal Bank of Canada increased their price target on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cormark increased their price target on Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Finally, CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th.

Definity Financial Price Performance

Shares of DFY opened at C$50.44 on Monday. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$50.71. The business has a 50-day simple moving average of C$48.20 and a two-hundred day simple moving average of C$45.78. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The stock has a market cap of C$5.80 billion, a PE ratio of 15.24, a PEG ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.66 by C$0.28. The company had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Analysts anticipate that Definity Financial will post 2.9052876 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 annualized dividend and a yield of 1.27%. Definity Financial’s payout ratio is currently 19.34%.

Definity Financial Company Profile

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.