Definity Financial (TSE:DFY) Cut to “Market Perform” at Raymond James

Raymond James downgraded shares of Definity Financial (TSE:DFY) from an outperform rating to a market perform rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have C$55.00 price objective on the stock, up from their prior price objective of C$53.00. Raymond James also issued estimates for Definity Financial’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $2.58 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $1.06 EPS and FY2025 earnings at $3.91 EPS.

Several other brokerages also recently commented on DFY. Royal Bank of Canada increased their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. National Bankshares increased their price target on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Desjardins increased their target price on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Finally, Scotiabank boosted their price target on Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Definity Financial currently has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Trading Down 0.1 %

Shares of DFY opened at C$56.28 on Tuesday. 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 52-week low of C$35.48 and a 52-week high of C$58.73. The firm has a market cap of C$6.47 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.63 and a beta of 0.04. The business’s fifty day moving average is C$53.37 and its 200-day moving average is C$48.59.

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

Definity Financial Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, December 13th. Definity Financial’s dividend payout ratio is presently 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.