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

Scotiabank lowered shares of Definity Financial (TSE:DFY) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. TD Securities increased their price objective on shares of Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets raised their target price on Definity Financial from C$53.00 to C$57.00 in a research report on Monday. Cormark lowered shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, CIBC cut Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Trading Down 0.5 %

TSE:DFY traded down C$0.28 during trading hours on Monday, hitting C$56.00. The company had a trading volume of 23,424 shares, compared to its average volume of 106,161. The company has a 50-day moving average of C$53.50 and a 200 day moving average of C$48.65. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The company has a market cap of C$6.43 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.63 and a beta of 0.04. Definity Financial has a 1 year low of C$35.48 and a 1 year high of C$58.73.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. The firm had revenue of C$1.10 billion for the quarter, compared to analysts’ expectations of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Sell-side analysts expect that Definity Financial will post 3.1263962 earnings per share for the current year.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is 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.