Definity Financial (TSE:DFY) Price Target Raised to C$59.00 at TD Securities

Definity Financial (TSE:DFY) had its price objective hoisted by TD Securities from C$58.00 to C$59.00 in a research report sent to investors on Friday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other brokerages also recently weighed in on DFY. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Desjardins raised their price objective on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Scotiabank raised their price objective on shares of Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Cormark lowered shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$55.00.

Definity Financial Price Performance

Shares of TSE DFY opened at C$55.02 on Friday. The firm has a market cap of C$6.32 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. 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 has a 1-year low of C$35.48 and a 1-year high of C$58.73. The business’s 50 day moving average is C$53.14 and its 200-day moving average is C$48.45.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.10 billion for the quarter, compared to the consensus estimate of C$1.10 billion. Equities research analysts predict that Definity Financial will post 3.1263962 earnings per share for the current year.

Definity Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. 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.