Definity Financial (TSE:DFY) Cut to “Hold” at Cormark

Cormark lowered shares of Definity Financial (TSE:DFY) from a moderate buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports. Cormark also issued estimates for Definity Financial’s Q3 2024 earnings at $0.00 EPS, FY2024 earnings at $2.53 EPS and FY2025 earnings at $3.25 EPS.

Several other brokerages also recently issued reports on DFY. Royal Bank of Canada raised their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. TD Securities increased their price objective on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday, September 20th. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and raised their target price for the stock from C$47.00 to C$51.00 in a research 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 report on Friday, September 20th. Finally, Raymond James boosted their price objective on Definity Financial from C$55.00 to C$58.00 in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$53.70.

Definity Financial Trading Up 0.6 %

TSE:DFY opened at C$54.03 on Wednesday. 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 company has a market capitalization of C$6.21 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.63 and a beta of 0.04. Definity Financial has a 52 week low of C$35.48 and a 52 week high of C$55.86. The stock’s 50 day moving average price is C$52.52 and its 200 day moving average price is C$47.97.

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

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.