TSE:DFY FY2024 EPS Increased by National Bank Financial

Definity Financial Co. (TSE:DFY) – Equities research analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Definity Financial in a report issued on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings of $2.58 per share for the year, up from their prior forecast of $2.53. 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 FY2025 earnings at $3.22 EPS and FY2026 earnings at $3.65 EPS.

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

DFY has been the subject of several other reports. Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$53.00 to C$55.00 in a research note on Tuesday, November 12th. Cormark cut Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price target on Definity Financial from C$53.00 to C$57.00 in a research note on Monday, November 11th. Finally, TD Securities increased their price target on Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Definity Financial presently has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Stock Up 3.6 %

Definity Financial stock opened at C$59.22 on Tuesday. Definity Financial has a twelve month low of C$37.83 and a twelve month high of C$60.78. The stock has a 50 day moving average of C$57.41 and a two-hundred day moving average of C$53.86. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The stock has a market capitalization of C$6.80 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.63 and a beta of 0.04.

Definity Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. Definity Financial’s dividend payout ratio is 19.34%.

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.