Cormark Boosts Definity Financial (TSE:DFY) Price Target to C$51.00

Definity Financial (TSE:DFY) had its target price lifted by Cormark from C$49.00 to C$51.00 in a report released on Friday morning, BayStreet.CA reports.

Several other research firms also recently weighed in on DFY. Raymond James boosted their target price on shares of Definity Financial from C$46.00 to C$52.50 and gave the stock an outperform rating in a research report on Monday, May 13th. Jefferies Financial Group decreased their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a hold rating for the company in a research note on Monday, May 13th. Scotiabank lifted their price objective on shares of Definity Financial from C$51.00 to C$52.00 in a research note on Wednesday, July 24th. BMO Capital Markets lifted their price objective 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. Finally, CIBC lifted their price objective on shares of Definity Financial from C$46.00 to C$47.00 and gave the company an outperform rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of C$50.05.

Definity Financial Stock Up 1.4 %

TSE:DFY opened at C$48.02 on Friday. The company has a market cap of C$5.53 billion and a PE ratio of 15.85. Definity Financial has a twelve month low of C$32.09 and a twelve month high of C$48.36. The company has a current ratio of 5.47, a quick ratio of 0.31 and a debt-to-equity ratio of 8.20. The company’s 50 day moving average is C$44.40 and its two-hundred day moving average is C$43.52.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.07). The company had revenue of C$991.90 million for the quarter, compared to analysts’ expectations of C$1 billion. Definity Financial had a return on equity of 12.27% and a net margin of 8.94%. Analysts anticipate that Definity Financial will post 2.6896762 EPS for the current year.

Definity Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, June 13th. Definity Financial’s dividend payout ratio is currently 21.12%.

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.