Brokerages Set Definity Financial Co. (TSE:DFY) PT at C$53.40

Shares of Definity Financial Co. (TSE:DFY) have been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$53.70.

Several equities analysts recently issued reports on DFY shares. TD Securities boosted their target price on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday, September 20th. 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. Desjardins raised their target price on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Cormark cut Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Finally, CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th.

Definity Financial Stock Performance

TSE DFY opened at C$54.03 on Tuesday. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$55.86. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The firm has a market capitalization of C$6.21 billion, a P/E ratio of 16.32, a PEG ratio of 2.63 and a beta of 0.04. The stock has a 50-day simple moving average of C$52.52 and a two-hundred day simple moving average of C$48.00.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The company had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, equities analysts forecast that Definity Financial will post 3.1263962 earnings per share for the current 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.