Definity Financial (TSE:DFY) Sets New 52-Week High – Still a Buy?

Definity Financial Co. (TSE:DFY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$60.95 and last traded at C$60.89, with a volume of 33620 shares trading hands. The stock had previously closed at C$59.20.

Wall Street Analysts Forecast Growth

DFY has been the topic of several recent research reports. National Bankshares raised their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Cormark cut shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. TD Securities raised their price target on Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$54.70.

Definity Financial Stock Up 1.4 %

The company has a market capitalization of C$7.12 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.63 and a beta of 0.04. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The firm has a fifty day simple moving average of C$57.52 and a 200-day simple moving average of C$54.18.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The business had revenue of C$1.10 billion during the quarter, compared to analysts’ expectations of C$1.10 billion. On average, equities research analysts expect that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

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.