Definity Financial Co. (TSE:DFY) Receives Consensus Recommendation of “Hold” from Analysts

Definity Financial Co. (TSE:DFY) has received an average rating of “Hold” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$54.70.

Several brokerages have recently commented on DFY. BMO Capital Markets boosted their target price on shares of Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. TD Securities upped their target price 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. Scotiabank lowered Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Finally, Cormark cut Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Definity Financial Price Performance

Definity Financial stock opened at C$54.46 on Friday. The firm has a market cap of C$6.26 billion, a PE ratio of 16.45, 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 stock’s fifty day moving average price is C$57.43 and its two-hundred day moving average price is C$52.89. Definity Financial has a one year low of C$37.32 and a one year high of C$60.78.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. The business 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%. As a group, research analysts expect that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) 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.