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

Definity Financial (TSE:DFY) had its price target boosted by Scotiabank from C$51.00 to C$53.00 in a report released on Friday, BayStreet.CA reports.

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

Definity Financial Stock Up 1.8 %

DFY stock opened at C$53.21 on Friday. The stock has a market cap of C$6.11 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. The company’s 50 day moving average is C$48.84 and its 200 day moving average is C$45.98. 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$53.53.

Definity Financial (TSE:DFY) last issued its 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. The business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Sell-side analysts predict that Definity Financial will post 3.1395647 EPS for the current fiscal year.

Definity Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. 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.