Desjardins Research Analysts Raise Earnings Estimates for Definity Financial Co. (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Stock analysts at Desjardins lifted their Q2 2024 earnings estimates for Definity Financial in a note issued to investors on Monday, July 22nd. Desjardins analyst D. Young now expects that the company will post earnings of $0.62 per share for the quarter, up from their prior forecast of $0.60. Desjardins has a “Hold” rating and a $47.00 price objective on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.69 per share. Desjardins also issued estimates for Definity Financial’s FY2025 earnings at $2.85 EPS.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group dropped their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating on the stock in a report on Monday, May 13th. Scotiabank upped their price target on shares of Definity Financial from C$51.00 to C$52.00 in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Definity Financial from C$44.00 to C$48.00 and gave the company a “market perform” rating in a research note on Monday, May 13th. CIBC increased their target price on Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada raised their price target on Definity Financial from C$50.00 to C$51.00 in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Definity Financial has an average rating of “Moderate Buy” and an average price target of C$49.25.

Definity Financial Stock Down 0.7 %

Shares of TSE DFY opened at C$47.34 on Wednesday. The business’s fifty day moving average price is C$44.34 and its 200-day moving average price is C$43.37. Definity Financial has a one year low of C$32.09 and a one year high of C$48.36. The stock has a market capitalization of C$5.45 billion and a PE ratio of 15.62. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31.

Definity Financial (TSE:DFY) last posted its quarterly earnings data 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). Definity Financial had a net margin of 8.94% and a return on equity of 12.27%. The firm had revenue of C$991.90 million during the quarter, compared to analysts’ expectations of C$1 billion.

Definity Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, June 13th. Definity Financial’s payout ratio is currently 21.12%.

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.