Definity Financial Co. (TSE:DFY) Receives C$52.60 Average Price Target from Analysts

Definity Financial Co. (TSE:DFY) has been given an average rating of “Hold” by the ten analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and four 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$52.60.

DFY has been the topic of a number of recent research reports. Cormark raised their target price on Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Raymond James increased their price target on Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and increased their price target for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd.

Definity Financial Stock Down 0.1 %

DFY stock opened at C$50.44 on Monday. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$50.71. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The stock’s 50 day moving average is C$48.20 and its 200-day moving average is C$45.78. The firm has a market capitalization of C$5.80 billion, a PE ratio of 15.24, a P/E/G ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share 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 company had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Sell-side analysts expect that Definity Financial will post 2.9052876 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Friday, September 13th. Definity Financial’s dividend payout ratio is currently 19.34%.

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.