Definity Financial (TSE:DFY) Price Target Cut to C$53.00 by Analysts at Raymond James

Definity Financial (TSE:DFY) had its price target dropped by analysts at Raymond James from C$55.00 to C$53.00 in a research note issued to investors on Thursday, BayStreet.CA reports. Raymond James’ price target points to a potential upside of 1.45% from the stock’s current price.

A number of other research firms have also issued reports on DFY. TD Securities upped their target price on Definity Financial from C$52.00 to C$55.00 in a research note on Friday, September 20th. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. National Bankshares upped their target price on Definity Financial from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Cormark upped their target price on Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Finally, Scotiabank upped their target price on Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$52.90.

Definity Financial Price Performance

Shares of TSE:DFY traded down C$0.27 during trading on Thursday, hitting C$52.24. 8,565 shares of the stock were exchanged, compared to its average volume of 103,975. The company has a fifty day moving average price of C$50.72 and a two-hundred day moving average price of C$46.70. The company has a market cap of C$6.00 billion, a PE ratio of 15.78, a P/E/G ratio of 2.63 and a beta of 0.04. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$55.53.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.66 by C$0.28. The business had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, analysts forecast that Definity Financial will post 3.1263962 EPS for the current year.

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.