Definity Financial Co. (TSE:DFY) Receives Consensus Rating of “Moderate Buy” from Analysts

Definity Financial Co. (TSE:DFY) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$47.30.

A number of brokerages recently weighed in on DFY. Royal Bank of Canada boosted their price target on shares of Definity Financial from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. BMO Capital Markets boosted their price target on shares of Definity Financial from C$40.00 to C$44.00 and gave the company a “market perform” rating in a research report on Tuesday, February 20th. Scotiabank boosted their price target on shares of Definity Financial from C$46.00 to C$49.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. CIBC boosted their price target on shares of Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Cormark boosted their price target on shares of Definity Financial from C$42.00 to C$43.00 in a research report on Friday, February 16th.

Definity Financial Stock Performance

Shares of DFY stock opened at C$44.04 on Friday. The stock has a market capitalization of C$5.10 billion, a PE ratio of 14.68, a P/E/G ratio of 2.63 and a beta of 0.08. The firm has a 50 day moving average of C$43.77 and a two-hundred day moving average of C$39.84. Definity Financial has a 52 week low of C$32.09 and a 52 week high of C$47.50. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, research analysts predict that Definity Financial will post 2.7913715 EPS for the current fiscal year.

Definity Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.45%. This is an increase from Definity Financial’s previous quarterly dividend of $0.14. Definity Financial’s payout ratio is currently 21.33%.

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.