FY2024 EPS Estimates for TSE:DFY Boosted by Analyst

Definity Financial Co. (TSE:DFY) – National Bank Financial increased their FY2024 earnings estimates for shares of Definity Financial in a note issued to investors on Sunday, November 10th. National Bank Financial analyst J. Gloyn now forecasts that the company will earn $2.53 per share for the year, up from their prior forecast of $2.38. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. National Bank Financial also issued estimates for Definity Financial’s Q4 2024 earnings at $0.82 EPS.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion during the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%.

Several other analysts also recently weighed in on the company. Scotiabank boosted their price objective on Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. Desjardins boosted their target price on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. National Bankshares increased their target price on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Securities increased their target price on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Definity Financial has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Price Performance

Shares of TSE:DFY opened at C$55.01 on Wednesday. Definity Financial has a 12 month low of C$35.48 and a 12 month high of C$58.73. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The stock has a market cap of C$6.32 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.63 and a beta of 0.04. The company has a 50 day moving average of C$53.14 and a 200 day moving average of C$48.45.

Definity Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, December 13th. Definity Financial’s payout ratio is 19.34%.

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.