Analysts Set Definity Financial Co. (TSE:DFY) Target Price at C$52.60

Definity Financial Co. (TSE:DFY) has received an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$52.60.

A number of equities analysts have commented on the company. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Royal Bank of Canada increased their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. TD Securities boosted their target price on shares of Definity Financial from C$49.00 to C$52.00 in a research note on Friday, August 2nd. Raymond James upped their target price on shares of Definity Financial from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Finally, Cibc World Mkts lowered shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th.

Definity Financial Trading Down 2.9 %

Shares of DFY stock opened at C$49.04 on Monday. 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 company has a market capitalization of C$5.63 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.63 and a beta of 0.01. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$50.71. The firm has a 50-day moving average price of C$48.42 and a 200 day moving average price of C$45.85.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The company had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$1.07 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. Research analysts forecast that Definity Financial will post 3.1395647 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.31%. 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.