Definity Financial Co. (TSE:DFY) to Post FY2024 Earnings of $2.69 Per Share, National Bank Financial Forecasts

Definity Financial Co. (TSE:DFY) – Analysts at National Bank Financial increased their FY2024 EPS estimates for Definity Financial in a note issued to investors on Monday, August 5th. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings per share of $2.69 for the year, up from their prior estimate of $2.67. The consensus estimate for Definity Financial’s current full-year earnings is $2.92 per share. National Bank Financial also issued estimates for Definity Financial’s Q4 2024 earnings at $0.87 EPS and FY2025 earnings at $3.13 EPS.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.07). The company had revenue of C$991.90 million for the quarter, compared to analyst estimates of C$1 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%.

Other analysts have also issued reports about the company. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$47.00 to C$51.00 in a report on Tuesday. Scotiabank upped their price target on Definity Financial from C$51.00 to C$52.00 in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating for the company in a report on Monday, May 13th. Raymond James boosted their target price on shares of Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Cibc World Mkts downgraded shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$52.70.

Definity Financial Stock Performance

Shares of Definity Financial stock opened at C$49.00 on Wednesday. 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 has a 1 year low of C$35.48 and a 1 year high of C$50.23. The firm’s 50-day simple moving average is C$45.28 and its 200-day simple moving average is C$44.12. The firm has a market cap of C$5.63 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

Definity Financial Announces Dividend

The company 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 of this dividend is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.31%. Definity Financial’s dividend payout ratio (DPR) is presently 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.