Desjardins Has Bullish Estimate for TSE:DFY FY2024 Earnings

Definity Financial Co. (TSE:DFY) – Investment analysts at Desjardins raised their FY2024 EPS estimates for Definity Financial in a report issued on Monday, February 3rd. Desjardins analyst D. Young now anticipates that the company will post earnings of $2.59 per share for the year, up from their previous forecast of $2.52. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. Desjardins also issued estimates for Definity Financial’s Q4 2024 earnings at $0.88 EPS.

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

DFY has been the topic of a number of other research reports. TD Securities upped their target price on Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. National Bankshares boosted their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cormark cut shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$53.00 to C$55.00 in a report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Definity Financial has an average rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Price Performance

DFY stock opened at C$61.09 on Wednesday. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. Definity Financial has a 1 year low of C$37.83 and a 1 year high of C$61.94. The firm has a 50-day moving average of C$57.52 and a 200 day moving average of C$54.18. The company has a market cap of C$7.02 billion, a P/E ratio of 18.46, a PEG ratio of 2.63 and a beta of 0.04.

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.