Definity Financial (TSE:DFY) Price Target Raised to C$58.00

Definity Financial (TSE:DFY) had its price target increased by Raymond James from C$55.00 to C$58.00 in a research report report published on Tuesday, BayStreet.CA reports.

A number of other research analysts have also issued reports on DFY. National Bankshares lifted their target price on Definity Financial from C$60.00 to C$62.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Cormark boosted their price objective on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Desjardins raised their target price on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Scotiabank lifted their price target on shares of Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. Finally, CIBC downgraded shares of Definity Financial from an “outperform” rating to a “neutral” rating and increased their price objective for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$53.40.

Definity Financial Stock Up 0.8 %

Definity Financial stock opened at C$55.09 on Tuesday. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$55.86. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The firm has a 50 day moving average price of C$51.88 and a 200 day moving average price of C$47.49. The company has a market capitalization of C$6.33 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The firm 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 expect that Definity Financial will post 3.1263962 earnings per share for the current year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Friday, September 13th. Definity Financial’s dividend payout ratio is currently 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.