Definity Financial (TSE:DFY) Price Target Raised to C$41.00

Definity Financial (TSE:DFYGet Rating) had its price objective boosted by TD Securities from C$39.00 to C$41.00 in a research note released on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank dropped their price objective on Definity Financial from C$37.00 to C$35.00 in a report on Tuesday, June 28th. National Bankshares increased their price objective on Definity Financial from C$37.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, May 13th. CIBC lowered their target price on Definity Financial from C$41.50 to C$39.50 and set an outperform rating for the company in a research note on Friday, July 22nd. Barclays raised their target price on Definity Financial from C$37.00 to C$38.00 and gave the company a na rating in a research note on Tuesday, July 26th. Finally, Cormark lowered their target price on Definity Financial from C$38.00 to C$36.00 in a research note on Monday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Definity Financial presently has an average rating of Moderate Buy and an average price target of C$39.60.

Definity Financial Trading Up 2.7 %

TSE DFY opened at C$39.08 on Wednesday. Definity Financial has a fifty-two week low of C$26.00 and a fifty-two week high of C$39.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.28 and a current ratio of 0.34. The stock has a 50 day simple moving average of C$34.27 and a two-hundred day simple moving average of C$31.94. The stock has a market cap of C$4.53 billion and a P/E ratio of 24.84.

Definity Financial (TSE:DFYGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported C$0.55 earnings per share for the quarter, topping the consensus estimate of C$0.40 by C$0.15. The business had revenue of C$790.30 million during the quarter. On average, analysts forecast that Definity Financial will post 2.0294276 earnings per share for the current year.

Definity Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, June 14th. Definity Financial’s payout ratio is 19.11%.

Definity Financial Company Profile

(Get Rating)

Definity Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in Canada. It offers 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 comprising fleet, commercial auto, property, liability, and specialty insurance products to businesses under the under the Economical brand name.

Further Reading

Analyst Recommendations for Definity Financial (TSE:DFY)

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