Definity Financial (TSE:DFY) Lowered to “Hold” Rating by Scotiabank

Definity Financial (TSE:DFY) was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Desjardins increased their target price on shares of Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Raymond James downgraded shares of Definity Financial from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$53.00 to C$55.00 in a report on Tuesday. Cibc World Mkts downgraded shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. National Bankshares increased their price target on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Stock Down 0.5 %

Shares of TSE DFY traded down C$0.27 during trading on Monday, hitting C$56.01. The stock had a trading volume of 23,524 shares, compared to its average volume of 106,168. Definity Financial has a 12 month low of C$35.48 and a 12 month high of C$58.73. 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 has a market capitalization of C$6.43 billion, a PE ratio of 17.00, a PEG ratio of 2.63 and a beta of 0.04. The firm has a fifty day moving average of C$53.50 and a two-hundred day moving average of C$48.65.

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

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.