Definity Financial (TSE:DFY) Downgraded to “Hold” Rating by Scotiabank

Definity Financial (TSE:DFY) was downgraded by research analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

DFY has been the subject of a number of other research reports. Cormark cut Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. CIBC downgraded shares of Definity Financial from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Desjardins increased their price objective on shares of Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised their price target on Definity Financial from C$53.00 to C$57.00 in a report on Monday. Finally, National Bankshares upped their price objective on 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. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Stock Performance

Shares of TSE DFY opened at C$56.28 on Monday. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$58.73. The firm has a market capitalization of C$6.47 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 current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The firm has a 50 day moving average of C$53.50 and a 200 day moving average of C$48.65.

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

Definity Financial Company Profile

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.