National Bankshares Issues Positive Forecast for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price objective raised by National Bankshares from C$62.00 to C$65.00 in a research note released on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada increased their target price on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cormark raised their price objective on shares of Definity Financial from C$49.00 to C$51.00 in a research note on Friday, July 26th. Scotiabank upped their target price on shares of Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. Desjardins raised their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Finally, Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$53.70.

Definity Financial Price Performance

Shares of Definity Financial stock opened at C$54.03 on Wednesday. The company has a market cap of C$6.21 billion, a PE ratio of 16.32, a P/E/G ratio of 2.63 and a beta of 0.04. The business has a 50 day moving average of C$52.52 and a 200 day moving average of C$48.00. Definity Financial has a 52 week low of C$35.48 and a 52 week high of C$55.86. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 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 business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. As a group, equities research analysts forecast that Definity Financial will post 3.1263962 earnings per share 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.