Definity Financial (TSE:DFY) Given New C$45.00 Price Target at Desjardins

Definity Financial (TSE:DFY) had its target price raised by Desjardins from C$44.00 to C$45.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock. Desjardins also issued estimates for Definity Financial’s Q1 2024 earnings at $0.70 EPS and FY2024 earnings at $2.68 EPS.

DFY has been the subject of a number of other research reports. TD Securities boosted their price target on Definity Financial from C$45.00 to C$49.00 and gave the company a buy rating in a report on Friday, February 16th. CIBC upped their target price on Definity Financial from C$46.00 to C$47.00 and gave the stock an outperform rating in a report on Tuesday. Royal Bank of Canada upped their target price on Definity Financial from C$48.00 to C$49.00 and gave the stock an outperform rating in a report on Friday, February 16th. Scotiabank upped their target price on Definity Financial from C$46.00 to C$49.00 and gave the stock an outperform rating in a report on Tuesday, February 20th. Finally, BMO Capital Markets upped their target price on Definity Financial from C$40.00 to C$44.00 and gave the stock a market perform rating in a report on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of C$47.30.

Definity Financial Stock Down 0.2 %

Shares of TSE DFY opened at C$44.30 on Tuesday. 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 capitalization of C$5.13 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 2.63 and a beta of 0.08. The stock has a 50 day moving average price of C$44.11 and a 200 day moving average price of C$39.95. Definity Financial has a 52-week low of C$32.09 and a 52-week high of C$47.50.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. The firm had revenue of C$1 billion during the quarter. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. Sell-side analysts expect that Definity Financial will post 2.7913715 earnings per share for the current year.

Definity Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Definity Financial’s previous quarterly dividend of $0.14. Definity Financial’s dividend payout ratio is currently 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.