Definity Financial Co. (TSE:DFY) to Post Q2 2023 Earnings of $0.51 Per Share, National Bank Financial Forecasts

Definity Financial Co. (TSE:DFY – Get Rating) – Analysts at National Bank Financial lowered their Q2 2023 earnings per share (EPS) estimates for shares of Definity Financial in a research report issued to clients and investors on Monday, May 22nd. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings of $0.51 per share for the quarter, down from their prior forecast of $0.55. The consensus estimate for Definity Financial’s current full-year earnings is $2.28 per share. National Bank Financial also issued estimates for Definity Financial’s Q4 2023 earnings at $0.75 EPS and FY2024 earnings at $2.41 EPS.

A number of other brokerages have also recently commented on DFY. Scotiabank boosted their price target on Definity Financial from C$46.00 to C$50.00 in a research report on Friday, April 28th. Desjardins cut Definity Financial from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Barclays dropped their price target on Definity Financial from C$43.00 to C$42.00 in a research report on Tuesday, May 16th. Cormark decreased their price objective on shares of Definity Financial from C$45.00 to C$40.00 in a report on Friday, February 10th. Finally, BMO Capital Markets lowered shares of Definity Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$45.00 to C$40.00 in a report on Monday, January 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$42.91.

Definity Financial Stock Performance

Shares of DFY opened at C$36.20 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.41 and a debt-to-equity ratio of 2.85. The business’s 50 day moving average price is C$36.07 and its 200-day moving average price is C$37.04. Definity Financial has a 52 week low of C$32.29 and a 52 week high of C$40.95. The stock has a market cap of C$4.17 billion and a P/E ratio of 10.90.

Definity Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.138 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.55 dividend on an annualized basis and a yield of 1.52%. Definity Financial’s dividend payout ratio is presently 16.57%.

Definity Financial Company Profile

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Definity Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in Canada. It offers 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 comprising fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Economical brand name.