Q1 2024 Earnings Forecast for Definity Financial Co. (TSE:DFY) Issued By Cormark

Definity Financial Co. (TSE:DFY) – Research analysts at Cormark issued their Q1 2024 earnings estimates for shares of Definity Financial in a research report issued on Wednesday, May 1st. Cormark analyst L. Persaud anticipates that the company will post earnings of $0.74 per share for the quarter. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Cormark also issued estimates for Definity Financial’s FY2024 earnings at $2.77 EPS and FY2025 earnings at $3.00 EPS.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$1 billion during the quarter.

Other equities research analysts also recently issued research reports about the stock. CIBC increased their target price on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. National Bankshares increased their price objective on Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Raymond James boosted their target price on Definity Financial from C$42.00 to C$46.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Royal Bank of Canada raised their price target on Definity Financial from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, BMO Capital Markets boosted their price target on Definity Financial from C$40.00 to C$44.00 and gave the company a “market perform” rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Definity Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$47.70.

Definity Financial Price Performance

TSE DFY opened at C$46.05 on Friday. The company has a 50 day simple moving average of C$44.90 and a 200-day simple moving average of C$40.43. Definity Financial has a 52-week low of C$32.09 and a 52-week high of C$47.50. The firm has a market capitalization of C$5.34 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31.

Definity Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Definity Financial’s previous quarterly dividend of $0.14. Definity Financial’s dividend payout ratio (DPR) is 21.33%.

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.