Brokerages Set Definity Financial Co. (TSE:DFY) Target Price at C$47.70

Definity Financial Co. (TSE:DFY) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$47.70.

A number of research analysts have weighed in on DFY shares. National Bankshares lifted their price objective on shares of Definity Financial from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Desjardins lifted their price target on Definity Financial from C$44.00 to C$45.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Raymond James increased their price target on Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. TD Securities boosted their price objective on Definity Financial from C$45.00 to C$49.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, CIBC increased their target price on Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th.

Definity Financial Stock Down 0.2 %

Shares of DFY opened at C$46.54 on Tuesday. The company has a market capitalization of C$5.39 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 2.63 and a beta of 0.08. Definity Financial has a 52 week low of C$32.09 and a 52 week high of C$47.50. The stock’s 50-day moving average price is C$44.99 and its 200-day moving average price is C$40.62. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping 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 business had revenue of C$1 billion for the quarter. On average, sell-side analysts predict that Definity Financial will post 2.7913715 EPS for the current year.

Definity Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 1.38%. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 14th. Definity Financial’s payout ratio is presently 21.33%.

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.