Cibc World Mkts cut shares of Definity Financial (TSE:DFY – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.
Several other equities analysts have also recently weighed in on the company. Desjardins lifted their price objective on Definity Financial from C$47.00 to C$52.00 and gave the company a hold rating in a report on Tuesday. Raymond James increased their price objective on shares of Definity Financial from C$52.50 to C$55.00 and gave the stock an outperform rating in a research note on Tuesday. National Bankshares boosted their target price on shares of Definity Financial from C$60.00 to C$62.00 and gave the company an outperform rating in a research report on Tuesday. Cormark lifted their price target on shares of Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of C$52.70.
Check Out Our Latest Analysis on DFY
Definity Financial Stock Performance
Definity Financial (TSE:DFY – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported C$0.65 EPS for the quarter, missing the consensus estimate of C$0.72 by C($0.07). The business had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Analysts forecast that Definity Financial will post 2.920143 EPS for the current year.
Definity Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, September 13th. Definity Financial’s payout ratio is currently 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.
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