Brokerages Set Definity Financial Co. (TSE:DFY) Price Target at C$53.40

Definity Financial Co. (TSE:DFY - Get Free Report) has received a consensus rating of "Hold" from the ten brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$53.40.

DFY has been the subject of a number of recent research reports. National Bankshares lifted their target price on Definity Financial from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a report on Tuesday, August 6th. Cibc World Mkts lowered shares of Definity Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. TD Securities increased their price objective on shares of Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. 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 research report on Tuesday, August 6th. Finally, Cormark increased their price target on Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th.

Definity Financial Price Performance

Shares of Definity Financial stock traded up C$0.49 on Tuesday, hitting C$55.15. 125,070 shares of the company traded hands, compared to its average volume of 105,113. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The business has a 50-day simple moving average of C$52.17 and a 200 day simple moving average of C$47.73. Definity Financial has a 52 week low of C$35.48 and a 52 week high of C$55.86. The stock has a market capitalization of C$6.34 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts' consensus estimates of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Research analysts expect that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Definity Financial's 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.