TD Securities Raises Definity Financial (TSE:DFY) Price Target to C$59.00

Definity Financial (TSE:DFY) had its price target increased by TD Securities from C$58.00 to C$59.00 in a research report sent to investors on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently issued reports on DFY. Raymond James raised their price target on shares of Definity Financial from C$55.00 to C$58.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. CIBC downgraded shares of Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Cormark downgraded shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Desjardins boosted 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. Eight 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, the stock currently has an average rating of “Hold” and a consensus price target of C$55.00.

Definity Financial Trading Up 0.4 %

Shares of DFY stock opened at C$55.02 on Friday. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$58.73. The stock has a market capitalization of C$6.32 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The company has a 50 day moving average price of C$53.14 and a 200 day moving average price of C$48.45.

Definity Financial (TSE:DFY) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The firm had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. Equities research analysts predict that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Definity Financial’s payout ratio is 19.34%.

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.