Definity Financial (TSE:DFY) Downgraded by Scotiabank to Hold

Definity Financial (TSE:DFY) was downgraded by equities research analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

DFY has been the topic of several other reports. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$53.00 to C$55.00 in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. National Bankshares upped their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Desjardins increased their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Performance

Shares of DFY stock opened at C$56.28 on Monday. The company’s fifty day moving average price is C$53.50 and its 200-day moving average price is C$48.65. The stock has a market cap of C$6.47 billion, a PE ratio of 17.00, 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 12 month low of C$35.48 and a 12 month high of C$58.73.

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

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.