Definity Financial (TSE:DFY) Price Target Raised to C$53.00

Definity Financial (TSE:DFY) had its target price upped by equities researchers at Scotiabank from C$51.00 to C$53.00 in a report released on Friday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 3.94% from the stock’s previous close.

DFY has been the subject of a number of other research reports. National Bankshares upped their price objective on shares of Definity Financial from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Cormark upped their price objective on shares of Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. TD Securities upped their target price on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday. Finally, CIBC lowered shares of Definity Financial from an “outperform” rating to a “neutral” rating and upped their target price for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$53.10.

Definity Financial Trading Up 2.3 %

Shares of Definity Financial stock traded up C$1.15 on Friday, hitting C$50.99. 83,810 shares of the company’s stock traded hands, compared to its average volume of 96,647. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. Definity Financial has a one year low of C$35.48 and a one year high of C$51.18. The firm’s 50-day moving average price is C$48.61 and its two-hundred day moving average price is C$45.91. The stock has a market capitalization of C$5.86 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The business had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$1.07 billion. On average, research analysts expect that Definity Financial will post 3.1395647 EPS for the current fiscal year.

About Definity Financial

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.