Definity Financial (TSE:DFY) Price Target Raised to C$52.00

Definity Financial (TSE:DFY) had its price target increased by Desjardins from C$47.00 to C$52.00 in a research note released on Tuesday, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group lowered their price target on Definity Financial from C$44.00 to C$43.00 and set a hold rating for the company in a report on Monday, May 13th. BMO Capital Markets lifted their price target on shares of Definity Financial from C$44.00 to C$48.00 and gave the company a market perform rating in a research note on Monday, May 13th. Cormark increased their price objective on shares of Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Finally, National Bankshares upped their target price on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of C$52.70.

Definity Financial Trading Up 0.7 %

TSE DFY traded up C$0.34 during trading on Tuesday, reaching C$49.34. 44,011 shares of the stock traded hands, compared to its average volume of 99,936. The stock’s 50-day moving average price is C$45.40 and its 200 day moving average price is C$44.20. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The firm has a market cap of C$5.67 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$50.23.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). The firm had revenue of C$991.90 million during the quarter, compared to the consensus estimate of C$1 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. Analysts predict that Definity Financial will post 2.920143 EPS for the current year.

Definity Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, September 13th. 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.