TD Securities Increases Definity Financial (TSE:DFY) Price Target to C$55.00

Definity Financial (TSE:DFY) had its target price increased by TD Securities from C$52.00 to C$55.00 in a research note released on Friday, BayStreet.CA reports.

A number of other research analysts also recently issued reports on the company. Cibc World Mkts downgraded Definity Financial from a strong-buy rating to a hold rating in a report on Tuesday, August 6th. CIBC downgraded Definity Financial from an outperform rating to a neutral rating and lifted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. National Bankshares lifted their price target on Definity Financial from C$60.00 to C$62.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Raymond James boosted their target price on Definity Financial from C$52.50 to C$55.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their target price on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Six 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, Definity Financial presently has an average rating of Hold and a consensus target price of C$53.10.

Definity Financial Trading Up 1.8 %

Shares of TSE DFY opened at C$53.21 on Friday. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The business has a fifty day simple moving average of C$48.84 and a two-hundred day simple moving average of C$45.98. The firm has a market cap of C$6.11 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$53.53.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Analysts expect that Definity Financial will post 3.1395647 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. Definity Financial’s dividend payout ratio (DPR) is presently 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.