Definity Financial (TSE:DFY) Stock Price Expected to Rise, TD Securities Analyst Says

Definity Financial (TSE:DFY) had its price objective boosted by research analysts at TD Securities from C$58.00 to C$59.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential upside of 7.64% from the stock’s current price.

A number of other analysts have also recently commented on the company. Desjardins upped their price target on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada increased their target price on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. CIBC lowered shares of Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Scotiabank raised their price objective on Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. Finally, Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Definity Financial has an average rating of “Hold” and an average target price of C$54.10.

Definity Financial Trading Down 1.2 %

Shares of TSE DFY opened at C$54.81 on Friday. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$58.73. The firm has a market capitalization of C$6.30 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.63 and a beta of 0.04. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The company’s 50 day simple moving average is C$53.04 and its 200 day simple moving average is C$48.35.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.17. The business had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, analysts predict that Definity Financial will post 3.1263962 EPS for the current year.

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.