Desjardins Has Optimistic Outlook of TSE:DFY FY2024 Earnings

Definity Financial Co. (TSE:DFY) – Equities researchers at Desjardins raised their FY2024 EPS estimates for shares of Definity Financial in a research note issued to investors on Monday, February 3rd. Desjardins analyst D. Young now forecasts that the company will earn $2.59 per share for the year, up from their previous forecast of $2.52. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. Desjardins also issued estimates for Definity Financial’s Q4 2024 earnings at $0.88 EPS.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. The business had revenue of C$1.10 billion during the quarter, compared to analysts’ expectations of C$1.10 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%.

DFY has been the topic of several other reports. Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. National Bankshares boosted their price objective 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. BMO Capital Markets lifted their price target on shares of Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. Cormark cut shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank cut shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Trading Down 0.2 %

Shares of DFY stock opened at C$61.09 on Wednesday. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The company has a market cap of C$7.02 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.63 and a beta of 0.04. Definity Financial has a 1 year low of C$37.83 and a 1 year high of C$61.94. The firm has a fifty day moving average price of C$57.52 and a 200-day moving average price of C$54.18.

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.