Definity Financial (TSE:DFY) Price Target Lowered to C$53.00 at Raymond James

Definity Financial (TSE:DFY) had its price target reduced by research analysts at Raymond James from C$55.00 to C$53.00 in a report released on Thursday, BayStreet.CA reports. Raymond James’ price target indicates a potential downside of 2.11% from the stock’s current price.

Several other research firms also recently commented on DFY. National Bankshares boosted their target price on shares of Definity Financial from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Desjardins upped their target price on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada upped their target price on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cormark increased their price objective on shares of Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Finally, Scotiabank raised their price objective on shares of Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$52.90.

Definity Financial Price Performance

DFY opened at C$54.14 on Thursday. The company has a 50-day moving average of C$50.97 and a 200-day moving average of C$46.80. The company has a market capitalization of C$6.22 billion, a P/E ratio of 16.36, a PEG ratio of 2.63 and a beta of 0.04. Definity Financial has a 1-year low of C$35.48 and a 1-year high of C$55.53. 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 posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The firm had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. Equities analysts expect that Definity Financial will post 3.1263962 EPS for the current fiscal year.

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.