Definity Financial (TSE:DFY) Stock Rating Lowered by Scotiabank

Scotiabank downgraded shares of Definity Financial (TSE:DFY) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. TD Securities raised their price target on Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Cormark downgraded Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. National Bankshares increased their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC lowered shares of 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, Royal Bank of Canada increased their price target on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Definity Financial currently has a consensus rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Stock Down 0.5 %

DFY stock traded down C$0.27 during trading on Monday, hitting C$56.01. 23,524 shares of the stock traded hands, compared to its average volume of 106,182. The stock has a market cap of C$6.43 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The firm’s 50 day moving average is C$53.50 and its two-hundred day moving average is C$48.65. Definity Financial has a 1 year low of C$35.48 and a 1 year high of C$58.73.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, topping the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, sell-side analysts anticipate that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. Definity Financial’s dividend payout ratio (DPR) 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.