Definity Financial (TSE:DFY) Lowered to Market Perform Rating by Raymond James

Raymond James cut shares of Definity Financial (TSE:DFY) from an outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has C$55.00 target price on the stock, up from their previous target price 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.

A number of other brokerages have also recently issued reports on DFY. National Bankshares lifted their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cormark downgraded Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank increased their price objective on Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. BMO Capital Markets lifted their target price on Definity Financial from C$53.00 to C$57.00 in a research report on Monday. Finally, Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Down 0.1 %

DFY stock opened at C$56.28 on Tuesday. The stock’s 50 day simple moving average is C$53.37 and its 200 day simple moving average is C$48.59. The company has a market cap of C$6.47 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. 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 fifty-two week low of C$35.48 and a fifty-two week high of C$58.73.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$1.10 billion for the quarter, compared to analysts’ expectations of C$1.10 billion. On average, research analysts expect that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is currently 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.