Raymond James Raises Definity Financial (TSE:DFY) Price Target to C$58.00

Definity Financial (TSE:DFY) had its target price raised by equities research analysts at Raymond James from C$55.00 to C$58.00 in a research note issued on Tuesday, BayStreet.CA reports. Raymond James’ target price points to a potential upside of 4.96% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Scotiabank upped their target price on Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada upped their price objective on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Desjardins upped their price objective on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Finally, Cormark upped their price objective on Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$53.40.

Definity Financial Stock Up 0.0 %

Shares of DFY stock traded up C$0.02 during mid-day trading on Tuesday, hitting C$55.26. The stock had a trading volume of 32,014 shares, compared to its average volume of 104,867. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$55.86. The firm has a market capitalization of C$6.35 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The firm’s 50-day moving average is C$51.64 and its two-hundred day moving average is C$47.32. 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 (TSE:DFY) last issued its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The business had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$1.07 billion. On average, analysts predict that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

About Definity Financial

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.