Analysts Set Definity Financial Co. (TSE:DFY) Target Price at C$48.95

Definity Financial Co. (TSE:DFY) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$48.95.

A number of equities analysts have recently issued reports on DFY shares. Royal Bank of Canada upped their price objective on Definity Financial from C$50.00 to C$51.00 in a report on Friday, May 10th. National Bankshares upped their target price on Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Desjardins lifted their price target on shares of Definity Financial from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Raymond James upped their price objective on shares of Definity Financial from C$46.00 to C$52.50 and gave the company an “outperform” rating in a research note on Monday, May 13th. Finally, Scotiabank decreased their target price on shares of Definity Financial from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th.

Definity Financial Trading Up 1.8 %

Shares of Definity Financial stock opened at C$44.98 on Wednesday. The company has a 50 day simple moving average of C$44.25 and a two-hundred day simple moving average of C$42.21. The firm has a market cap of C$5.18 billion and a PE ratio of 14.84. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$47.50. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). The company had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. Definity Financial had a return on equity of 12.27% and a net margin of 8.94%. Analysts expect that Definity Financial will post 2.6896762 earnings per share for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. Definity Financial’s payout ratio is presently 21.12%.

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.