Raymond James Cuts Definity Financial (TSE:DFY) Price Target to C$53.00

Definity Financial (TSE:DFY) had its target price reduced by Raymond James from C$55.00 to C$53.00 in a research report released on Thursday morning, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the stock. Desjardins increased their target price on shares of Definity Financial from C$47.00 to C$52.00 and gave the stock a hold rating in a report on Tuesday, August 6th. CIBC cut Definity Financial from an outperform rating to a neutral rating and upped their target price for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. TD Securities boosted their price objective on Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. Royal Bank of Canada lifted their price objective on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Finally, Cibc World Mkts downgraded shares of Definity Financial from a strong-buy rating to a hold rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$52.90.

Definity Financial Trading Up 2.1 %

Shares of TSE:DFY opened at C$54.14 on Thursday. The firm has a fifty day moving average price of C$50.97 and a 200 day moving average price of C$46.84. 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 1 year low of C$35.48 and a 1 year high of C$55.53. The stock has a market capitalization of C$6.22 billion, a PE ratio of 16.36, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The company had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Analysts expect that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Definity Financial’s payout ratio is currently 19.34%.

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.