Definity Financial (TSE:DFY) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts cut shares of Definity Financial (TSE:DFY) 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.

Definity Financial Stock Performance

Shares of Definity Financial stock traded up C$0.34 on Tuesday, hitting C$49.34. The stock had a trading volume of 44,011 shares, compared to its average volume of 99,936. 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 business’s 50 day moving average is C$45.40 and its two-hundred day moving average is C$44.20. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$50.23. The stock has a market cap of C$5.67 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) 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.