Definity Financial (TSE:DFY) Given New C$57.00 Price Target at BMO Capital Markets

Definity Financial (TSE:DFY) had its target price increased by BMO Capital Markets from C$53.00 to C$57.00 in a report published on Monday morning,BayStreet.CA reports.

Several other brokerages have also issued reports on DFY. Desjardins raised their target price on shares of 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 lifted their target price on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Scotiabank boosted their target price on Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Definity Financial currently has an average rating of “Hold” and a consensus target price of C$55.00.

Definity Financial Trading Up 0.4 %

Shares of Definity Financial stock opened at C$55.02 on Monday. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$58.73. The stock has a market capitalization of C$6.32 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The company has a 50-day simple moving average of C$53.14 and a 200 day simple moving average of C$48.45. 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 posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.17. The company 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%. Research analysts expect that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.16%. Definity Financial’s dividend payout ratio (DPR) is presently 19.34%.

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.