Definity Financial Co. (TSE:DFY) Receives C$52.60 Consensus Target Price from Analysts

Shares of Definity Financial Co. (TSE:DFY - Get Free Report) have received a consensus rating of "Hold" from the ten analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$52.60.

Several equities analysts have weighed in on the stock. CIBC downgraded shares of Definity Financial from an "outperform" rating to a "neutral" rating and raised their target price for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Royal Bank of Canada upped their price target on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cibc World Mkts cut shares of Definity Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Jefferies Financial Group dropped their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a "hold" rating on the stock in a research note on Monday, May 13th. Finally, Desjardins increased their target price 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.

Definity Financial Stock Up 1.2 %

Shares of Definity Financial stock traded up C$0.62 during trading on Monday, hitting C$50.36. 59,798 shares of the stock were exchanged, compared to its average volume of 96,853. The firm's 50-day moving average price is C$47.87 and its 200 day moving average price is C$45.66. The stock has a market cap of C$5.79 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$50.66. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31.

Definity Financial (TSE:DFY - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.66 by C$0.28. The business had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. As a group, analysts forecast that Definity Financial will post 2.9052876 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. Investors of record on Friday, September 13th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.27%. Definity Financial's dividend payout ratio 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.