Scotiabank Boosts Definity Financial (TSE:DFY) Price Target to C$53.00

Definity Financial (TSE:DFY) had its price objective hoisted by Scotiabank from C$51.00 to C$53.00 in a research note released on Friday, BayStreet.CA reports.

DFY has been the topic of a number of other reports. 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 research report on Tuesday, August 6th. Royal Bank of Canada boosted their price target on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. National Bankshares upped their target price on shares of Definity Financial from C$60.00 to C$62.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. TD Securities upped their price target on shares of Definity Financial from C$52.00 to C$55.00 in a report on Friday. Finally, Cibc World Mkts cut shares of Definity Financial from a strong-buy rating to a hold rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of C$53.10.

Definity Financial Stock Performance

Shares of DFY opened at C$53.21 on Friday. The company’s fifty day moving average price is C$48.84 and its 200 day moving average price is C$45.98. Definity Financial has a one year low of C$35.48 and a one year high of C$53.53. 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$6.11 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

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

Definity Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, September 13th. Definity Financial’s dividend payout ratio (DPR) is currently 19.34%.

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.