Definity Financial (TSE:DFY) Stock Rating Lowered by Raymond James

Definity Financial (TSE:DFY) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$55.00 target price on the stock, up from their previous target price of C$53.00. Raymond James’ price target indicates a potential upside of 1.44% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Cormark downgraded Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. BMO Capital Markets raised their price target on shares of Definity Financial from C$53.00 to C$57.00 in a research note on Monday. Finally, TD Securities increased their price objective on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Price Performance

Shares of DFY stock traded down C$0.80 during trading hours on Tuesday, hitting C$54.22. The company had a trading volume of 47,948 shares, compared to its average volume of 106,074. Definity Financial has a 12 month low of C$35.48 and a 12 month high of C$58.73. The firm has a market capitalization of C$6.23 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.63 and a beta of 0.04. The firm’s fifty day moving average is C$53.14 and its 200 day moving average is C$48.45. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68.

Definity Financial (TSE:DFY) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion during the quarter, compared to analysts’ expectations of C$1.10 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. On average, sell-side analysts predict that Definity Financial will post 3.1263962 EPS for the current fiscal year.

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.