Equities Analysts Issue Forecasts for Definity Financial Co.’s Q2 2024 Earnings (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Research analysts at Desjardins upped their Q2 2024 earnings estimates for shares of Definity Financial in a report issued on Monday, July 22nd. Desjardins analyst D. Young now anticipates that the company will post earnings per share of $0.62 for the quarter, up from their prior forecast of $0.60. Desjardins currently has a “Hold” rating and a $47.00 target price on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.69 per share. Desjardins also issued estimates for Definity Financial’s FY2025 earnings at $2.85 EPS.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, May 9th. The company reported C$0.65 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). Definity Financial had a net margin of 8.94% and a return on equity of 12.27%. The business had revenue of C$991.90 million during the quarter, compared to analysts’ expectations of C$1 billion.

DFY has been the subject of a number of other reports. National Bankshares lifted their price objective on Definity Financial from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Scotiabank boosted their price target on shares of Definity Financial from C$51.00 to C$52.00 in a research note on Wednesday. Jefferies Financial Group reduced their price target on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada upped their target price on shares of Definity Financial from C$50.00 to C$51.00 in a research note on Friday, May 10th. Finally, Raymond James upped their price target on Definity Financial from C$46.00 to C$52.50 and gave the stock an “outperform” rating in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Definity Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.25.

Definity Financial Stock Down 0.7 %

Definity Financial stock opened at C$47.34 on Wednesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 0.31 and a current ratio of 5.47. The firm has a 50 day moving average price of C$44.34 and a 200 day moving average price of C$43.37. Definity Financial has a fifty-two week low of C$32.09 and a fifty-two week high of C$48.36. The company has a market capitalization of C$5.45 billion and a PE ratio of 15.62.

Definity Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.64 annualized dividend and a yield of 1.35%. Definity Financial’s dividend payout ratio is currently 21.12%.

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.