Raymond James Trims Definity Financial (TSE:DFY) Target Price to C$53.00

Definity Financial (TSE:DFY) had its price objective reduced by Raymond James from C$55.00 to C$53.00 in a report released on Thursday morning, BayStreet.CA reports.

DFY has been the subject of several other research reports. Desjardins boosted their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a hold rating in a report on Tuesday, August 6th. Scotiabank upped their target price on Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Cormark boosted their price target on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. National Bankshares raised their price objective on Definity Financial from C$60.00 to C$62.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. Finally, CIBC downgraded shares of Definity Financial from an outperform rating to a neutral rating and boosted their target price for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of C$52.90.

Definity Financial Trading Up 2.1 %

Shares of TSE DFY opened at C$54.14 on Thursday. The stock has a market capitalization of C$6.22 billion, a P/E ratio of 16.36, a PEG ratio of 2.63 and a beta of 0.04. Definity Financial has a 1-year low of C$35.48 and a 1-year high of C$55.53. The business’s 50 day moving average is C$50.97 and its two-hundred day moving average is C$46.84. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.66 by C$0.28. The company had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. As a group, research analysts expect that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, September 13th. Definity Financial’s dividend payout ratio is presently 19.34%.

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.