Desjardins Raises Definity Financial (TSE:DFY) Price Target to C$45.00

Definity Financial (TSE:DFY) had its target price lifted by research analysts at Desjardins from C$44.00 to C$45.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective would indicate a potential upside of 2.34% from the stock’s current price. Desjardins also issued estimates for Definity Financial’s Q1 2024 earnings at $0.70 EPS and FY2024 earnings at $2.68 EPS.

Several other research analysts also recently commented on the company. Raymond James raised their price objective on Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Royal Bank of Canada increased their target price on Definity Financial from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. TD Securities raised their price objective on Definity Financial from C$45.00 to C$49.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Scotiabank lifted their price objective on Definity Financial from C$46.00 to C$49.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, National Bankshares lifted their price target on Definity Financial from C$57.00 to C$59.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$47.30.

Definity Financial Stock Performance

TSE DFY opened at C$43.97 on Tuesday. The business has a 50-day moving average price of C$43.88 and a 200-day moving average price of C$39.87. Definity Financial has a twelve month low of C$32.09 and a twelve month high of C$47.50. The firm has a market cap of C$5.10 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. The business had revenue of C$1 billion for the quarter. As a group, equities research analysts predict that Definity Financial will post 2.7913715 EPS for the current fiscal year.

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.