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 research report sent to investors on Monday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. Cibc World Mkts downgraded shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. National Bankshares increased their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Securities raised their price objective on shares of Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research report on Friday, November 8th. CIBC downgraded shares of Definity Financial from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Finally, Desjardins raised their price objective on shares of 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. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Stock Performance

TSE:DFY opened at C$56.31 on Monday. The firm has a market capitalization of C$6.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The business’s fifty day moving average price is C$53.24 and its 200 day moving average price is C$48.52. 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 12 month low of C$35.48 and a 12 month high of C$58.73.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, sell-side analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. 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.