Definity Financial (TSE:DFY) Price Target Raised to C$53.00 at Scotiabank

Definity Financial (TSE:DFY) had its price objective hoisted by Scotiabank from C$51.00 to C$53.00 in a research note published on Friday, BayStreet.CA reports.

Several other research firms have also recently weighed in on DFY. Cibc World Mkts cut Definity Financial from a strong-buy rating to a hold rating in a research report on Tuesday, August 6th. TD Securities upped their price objective on Definity Financial from C$52.00 to C$55.00 in a research report on Friday. Cormark upped their price objective on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. National Bankshares upped their price objective on Definity Financial from C$60.00 to C$62.00 and gave the stock an outperform rating 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. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of C$53.10.

Definity Financial Trading Up 4.8 %

TSE DFY opened at C$52.25 on Friday. Definity Financial has a 12 month low of C$35.48 and a 12 month high of C$52.26. The stock has a 50-day simple moving average of C$48.84 and a 200 day simple moving average of C$45.98. The company has a market capitalization of C$6.00 billion, a PE ratio of 15.79, a P/E/G ratio of 2.63 and a beta of 0.01. 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 (TSE:DFY) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of C$1.07 billion. Research analysts forecast that Definity Financial will post 3.1395647 EPS for the current year.

Definity Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.16 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Definity Financial’s payout ratio is 19.34%.

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.