FY2024 EPS Forecast for Definity Financial Lifted by Analyst

Definity Financial Co. (TSE:DFY) – National Bank Financial raised their FY2024 earnings estimates for shares of Definity Financial in a report issued on Sunday, November 10th. National Bank Financial analyst J. Gloyn now forecasts that the company will earn $2.53 per share for the year, up from their prior estimate of $2.38. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. National Bank Financial also issued estimates for Definity Financial’s Q4 2024 earnings at $0.82 EPS.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The company had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion.

DFY has been the topic of several other reports. Scotiabank increased their price target on shares of Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. Raymond James lowered shares of Definity Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from C$53.00 to C$55.00 in a research report on Tuesday. National Bankshares upped their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Desjardins upped their price objective on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Trading Down 0.0 %

TSE:DFY opened at C$55.01 on Wednesday. Definity Financial has a 1 year low of C$35.48 and a 1 year high of C$58.73. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The stock has a market capitalization of C$6.32 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.63 and a beta of 0.04. The stock has a fifty day moving average price of C$53.14 and a two-hundred day moving average price of C$48.45.

Definity Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, December 13th. Definity Financial’s dividend payout ratio is 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.