Definity Financial Co. (TSE:DFY) Receives C$54.70 Consensus Price Target from Brokerages

Shares of Definity Financial Co. (TSE:DFY) have received a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$54.70.

Several equities analysts have commented on DFY shares. TD Securities raised their target price on shares of Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. National Bankshares boosted 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 research report on Wednesday, October 30th. Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. BMO Capital Markets boosted their price target on Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. Finally, Raymond James lowered Definity Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$53.00 to C$55.00 in a research note on Tuesday, November 12th.

Definity Financial Price Performance

Definity Financial stock opened at C$57.39 on Wednesday. The company has a market capitalization of C$6.59 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.63 and a beta of 0.04. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. Definity Financial has a 12 month low of C$36.12 and a 12 month high of C$60.78. The stock’s 50 day moving average is C$56.62 and its 200-day moving average is C$51.05.

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

Definity Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Definity Financial’s dividend payout ratio (DPR) 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.