TD Securities Increases Definity Financial (TSE:DFY) Price Target to C$55.00

Definity Financial (TSE:DFY) had its price target hoisted by equities research analysts at TD Securities from C$52.00 to C$55.00 in a note issued to investors on Friday, BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 5.26% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Raymond James lifted their price objective on shares of Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Desjardins lifted their target price on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Finally, Scotiabank cut their price target on Definity Financial from C$52.00 to C$51.00 and set a “sector perform” rating for the company in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$53.10.

Definity Financial Stock Performance

DFY opened at C$52.25 on Friday. The business’s 50-day simple moving average is C$48.84 and its 200 day simple moving average is C$45.98. Definity Financial has a 52-week low of C$35.48 and a 52-week high of C$52.26. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The firm has a market capitalization of C$6.00 billion, a PE ratio of 15.79, a PEG ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.05 billion for the quarter, compared to analysts’ expectations of C$1.07 billion. As a group, sell-side analysts expect that Definity Financial will post 3.1395647 earnings per share for the current fiscal 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.