BMO Capital Markets Increases Definity Financial (TSE:DFY) Price Target to C$57.00

Definity Financial (TSE:DFY) had its target price hoisted by BMO Capital Markets from C$53.00 to C$57.00 in a report released on Monday,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on DFY. Royal Bank of Canada boosted their price objective on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. National Bankshares increased their price objective on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Cormark lowered shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Desjardins increased their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, CIBC downgraded shares of Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Price Performance

TSE DFY opened at C$56.28 on Monday. The stock’s 50-day moving average is C$53.37 and its two-hundred day moving average is C$48.59. 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 fifty-two week low of C$35.48 and a fifty-two week high of C$58.73. The firm has a market cap of C$6.47 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last announced 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. 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 the consensus estimate of C$1.10 billion. On average, analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.14%. Definity Financial’s dividend payout ratio is currently 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.