Definity Financial Co. Expected to Earn Q1 2024 Earnings of $0.74 Per Share (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Definity Financial in a research note issued to investors on Monday, April 29th. National Bank Financial analyst J. Gloyn forecasts that the company will post earnings per share of $0.74 for the quarter. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. National Bank Financial also issued estimates for Definity Financial’s Q2 2024 earnings at $0.64 EPS, Q3 2024 earnings at $0.55 EPS and Q4 2024 earnings at $0.81 EPS.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. The business had revenue of C$1 billion during the quarter. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%.

A number of other research firms have also weighed in on DFY. Desjardins boosted their price objective on shares of Definity Financial from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Scotiabank upped their price target on shares of Definity Financial from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Raymond James upped their price target on shares of Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. CIBC upped their price target on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, National Bankshares upped their price target on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$47.70.

Definity Financial Stock Performance

TSE:DFY opened at C$45.89 on Wednesday. The firm has a 50 day simple moving average of C$44.78 and a 200-day simple moving average of C$40.30. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31. The firm has a market cap of C$5.32 billion, a PE ratio of 15.30, a P/E/G ratio of 2.63 and a beta of 0.08. Definity Financial has a 1-year low of C$32.09 and a 1-year high of C$47.50.

Definity Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.16 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.39%. This is a positive change from Definity Financial’s previous quarterly dividend of $0.14. Definity Financial’s dividend payout ratio is presently 21.33%.

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.