Q1 2024 EPS Estimates for Definity Financial Co. (TSE:DFY) Raised by Desjardins

Definity Financial Co. (TSE:DFY) – Desjardins increased their Q1 2024 EPS estimates for Definity Financial in a research note issued on Monday, April 15th. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $0.70 for the quarter, up from their prior estimate of $0.62. Desjardins currently has a “Hold” rating and a $45.00 price target on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Desjardins also issued estimates for Definity Financial’s FY2024 earnings at $2.68 EPS.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%. The firm had revenue of C$1 billion during the quarter.

A number of other research analysts have also weighed in on DFY. CIBC raised their target price on shares of Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a report on Tuesday. National Bankshares lifted their price objective on shares of Definity Financial from C$57.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Scotiabank lifted their price objective on shares of Definity Financial from C$46.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. BMO Capital Markets lifted their price objective on shares of Definity Financial from C$40.00 to C$44.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada lifted their price objective on shares of Definity Financial from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$47.30.

Definity Financial Trading Down 0.2 %

DFY stock opened at C$43.97 on Tuesday. The firm has a fifty day moving average price of C$43.88 and a 200 day moving average price of C$39.87. Definity Financial has a fifty-two week low of C$32.09 and a fifty-two week high of C$47.50. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.31 and a current ratio of 4.68. The firm has a market cap of C$5.10 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08.

Definity Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.46%. This is an increase from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 14th. Definity Financial’s dividend payout ratio (DPR) is 21.33%.

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.