Definity Financial (TSE:DFY) Stock Rating Lowered by Raymond James

Raymond James lowered shares of Definity Financial (TSE:DFY) from an outperform rating to a market perform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has C$55.00 target price on the stock, up from their previous target price of C$53.00. Raymond James also issued estimates for Definity Financial’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $2.58 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $1.06 EPS and FY2025 earnings at $3.91 EPS.

Several other research firms have also recently weighed in on DFY. Desjardins lifted their price target on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada boosted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. CIBC lowered shares of Definity Financial from an “outperform” rating to a “neutral” rating and raised their price target for the stock from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Scotiabank boosted their price objective on shares of Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Finally, BMO Capital Markets raised their target price on shares of Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Definity Financial presently has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Down 0.1 %

DFY stock opened at C$56.24 on Tuesday. The business’s 50 day simple moving average is C$53.63 and its 200 day simple moving average is C$48.70. Definity Financial has a 1-year low of C$35.48 and a 1-year high of C$58.73. The firm has a market capitalization of C$6.46 billion, a PE ratio of 16.99, a PEG 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 (TSE:DFY) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. As a group, research analysts anticipate that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. Definity Financial’s payout ratio is 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.