Brokerages Set Definity Financial Co. (TSE:DFY) Target Price at C$54.70

Definity Financial Co. (TSE:DFY) has received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$54.70.

A number of analysts recently commented on the stock. Scotiabank downgraded shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. TD Securities upped their price target on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. BMO Capital Markets raised their price objective on Definity Financial from C$53.00 to C$57.00 in a research note on Monday, November 11th. Raymond James cut Definity Financial from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$53.00 to C$55.00 in a report on Tuesday, November 12th. Finally, National Bankshares upped 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.

Definity Financial Stock Performance

Shares of TSE DFY opened at C$53.67 on Friday. Definity Financial has a 1 year low of C$37.09 and a 1 year high of C$60.78. The firm has a market cap of C$6.17 billion, a P/E ratio of 16.21, a PEG ratio of 2.63 and a beta of 0.04. The stock has a fifty day moving average price of C$57.45 and a two-hundred day moving average price of C$52.75. 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 (TSE:DFY) last announced its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share 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 business had revenue of C$1.10 billion during the quarter, compared to analysts’ expectations of C$1.10 billion. Research analysts forecast that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, December 13th. Definity Financial’s payout ratio is 19.34%.

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.