Definity Financial (TSE:DFY) Sets New 12-Month High After Strong Earnings

Definity Financial Co. (TSE:DFY) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as C$56.73 and last traded at C$56.66, with a volume of 7639 shares. The stock had previously closed at C$55.47.

The company reported C$0.13 earnings per share for the quarter, topping the consensus estimate of C($0.04) by C$0.17. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The business had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Definity Financial’s dividend payout ratio is presently 19.34%.

Analyst Ratings Changes

Several brokerages recently weighed in on DFY. Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Desjardins raised their price objective on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Scotiabank boosted their target price on Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Raymond James raised their price target on shares of Definity Financial from C$55.00 to C$58.00 in a report on Tuesday, October 22nd. Finally, TD Securities boosted their price objective on shares of Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Definity Financial presently has an average rating of “Hold” and a consensus target price of C$54.10.

Definity Financial Price Performance

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 business’s fifty day simple moving average is C$53.04 and its 200 day simple moving average is C$48.33. The stock has a market cap of C$6.30 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

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.