Definity Financial (TSE:DFY – Get Free Report) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. They currently have a C$51.00 price objective on the stock, up from their prior price objective of C$47.00. CIBC’s price objective would indicate a potential upside of 4.70% from the company’s current price.
Several other equities research analysts have also issued reports on DFY. Scotiabank lifted their price objective on shares of Definity Financial from C$51.00 to C$52.00 in a research note on Wednesday, July 24th. Cormark lifted their target price on shares of Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of Definity Financial from C$44.00 to C$48.00 and gave the stock a “market perform” rating in a report on Monday, May 13th. Royal Bank of Canada lifted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday. Finally, National Bankshares lifted their target price on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Definity Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$52.70.
Definity Financial Stock Down 2.2 %
Definity Financial (TSE:DFY – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of C$1 billion. Research analysts anticipate that Definity Financial will post 2.6896762 EPS for the current year.
Definity Financial Company Profile
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.
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