Brokerages Set Definity Financial Co. (TSE:DFY) Price Target at C$48.95

Definity Financial Co. (TSE:DFY) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$50.05.

A number of brokerages recently weighed in on DFY. Jefferies Financial Group cut their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating on the stock in a research note on Monday, May 13th. Raymond James boosted their price target on shares of Definity Financial from C$46.00 to C$52.50 and gave the stock an “outperform” rating in a research report on Monday, May 13th. National Bankshares boosted their price target on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. BMO Capital Markets boosted their price target on shares of Definity Financial from C$44.00 to C$48.00 and gave the stock a “market perform” rating in a research report on Monday, May 13th. Finally, Cormark boosted their price target on shares of Definity Financial from C$49.00 to C$51.00 in a research report on Friday.

Definity Financial Price Performance

Shares of TSE DFY opened at C$48.02 on Friday. Definity Financial has a fifty-two week low of C$32.09 and a fifty-two week high of C$48.36. The firm’s 50-day simple moving average is C$44.40 and its 200 day simple moving average is C$43.48. The company has a quick ratio of 0.31, a current ratio of 5.47 and a debt-to-equity ratio of 8.20. The stock has a market cap of C$5.53 billion and a P/E ratio of 15.85.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share 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 company had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. Equities analysts expect that Definity Financial will post 2.6896762 EPS for the current year.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.64 annualized dividend and a yield of 1.33%. Definity Financial’s payout ratio is presently 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.