FY2024 EPS Estimates for TSE:DFY Boosted by Analyst

Definity Financial Co. (TSE:DFY) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Definity Financial in a report issued on Sunday, November 10th. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings per share of $2.53 for the year, up from their previous forecast of $2.38. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. National Bank Financial also issued estimates for Definity Financial’s Q4 2024 earnings at $0.82 EPS.

A number of other research analysts also recently weighed in on DFY. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and increased their target price for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Cormark downgraded Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. National Bankshares increased their target price on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$53.00 to C$55.00 in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Stock Up 2.4 %

DFY stock opened at C$56.31 on Wednesday. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$58.73. The business’s 50-day moving average is C$53.24 and its two-hundred day moving average is C$48.52. 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 company has a market cap of C$6.47 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last released its quarterly earnings data 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. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.10 billion for the quarter, compared to analysts’ expectations of C$1.10 billion.

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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is presently 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.