Definity Financial (TSE:DFY) Hits New 1-Year High at $50.77

Shares of Definity Financial Co. (TSE:DFY - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as C$50.77 and last traded at C$50.55, with a volume of 44328 shares changing hands. The stock had previously closed at C$49.84.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DFY. Cormark raised their price objective on shares of Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Raymond James raised their price target on Definity Financial from C$52.50 to C$55.00 and gave the stock an "outperform" rating in a report on Tuesday, August 6th. Desjardins upped their price objective on Definity Financial from C$47.00 to C$52.00 and gave the company a "hold" rating in a research note on Tuesday, August 6th. Royal Bank of Canada increased their price objective on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Finally, CIBC lowered Definity Financial from an "outperform" rating to a "neutral" rating and boosted their target price for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$53.10.

Definity Financial Price Performance

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 stock has a fifty day moving average of C$48.84 and a two-hundred day moving average of C$45.98. The stock has a market cap of C$6.00 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$1.07 billion. On average, equities research analysts anticipate that Definity Financial Co. will post 3.1395647 earnings per share for the current year.

Definity Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Definity Financial's 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.