Definity Financial (TSE:DFY) Price Target Raised to C$61.00 at Royal Bank of Canada

Definity Financial (TSE:DFY) had its price objective boosted by Royal Bank of Canada from C$58.00 to C$61.00 in a report published on Friday morning, BayStreet.CA reports.

A number of other research firms have also recently commented on DFY. Cormark upped their price objective on Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. National Bankshares upped their price objective on Definity Financial from C$59.00 to C$60.00 and gave the company an outperform rating in a report on Tuesday, April 30th. Jefferies Financial Group decreased their price objective on Definity Financial from C$44.00 to C$43.00 and set a hold rating on the stock in a report on Monday, May 13th. CIBC upped their price objective on Definity Financial from C$46.00 to C$47.00 and gave the company an outperform rating in a report on Tuesday, April 16th. Finally, Raymond James upped their price target on Definity Financial from C$46.00 to C$52.50 and gave the stock an outperform rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$51.35.

Definity Financial Price Performance

DFY stock opened at C$49.80 on Friday. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31. The business has a 50 day simple moving average of C$44.80 and a 200-day simple moving average of C$43.80. The firm has a market capitalization of C$5.74 billion and a PE ratio of 16.44. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$50.23.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). Definity Financial had a net margin of 8.94% and a return on equity of 12.27%. The company had revenue of C$991.90 million during the quarter, compared to analysts’ expectations of C$1 billion. Equities research analysts anticipate that Definity Financial will post 2.6896762 earnings per share for the current fiscal year.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, September 13th. Definity Financial’s dividend payout ratio is currently 21.12%.

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.