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

Definity Financial (TSE:DFY) had its price objective hoisted by equities research analysts at Royal Bank of Canada from C$58.00 to C$61.00 in a research note issued on Friday, BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 23.43% from the company’s current price.

Several other brokerages also recently commented on DFY. Desjardins lifted their target price on Definity Financial from C$45.00 to C$47.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. National Bankshares lifted their target price on Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Jefferies Financial Group cut their target price 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. BMO Capital Markets lifted their target price on Definity Financial from C$44.00 to C$48.00 and gave the stock a “market perform” rating in a report on Monday, May 13th. Finally, CIBC lifted their target price on Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$51.35.

Definity Financial Price Performance

Shares of TSE DFY traded up C$2.30 during mid-day trading on Friday, hitting C$49.42. 197,808 shares of the stock traded hands, compared to its average volume of 98,726. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31. Definity Financial has a twelve month low of C$32.09 and a twelve month high of C$50.10. The company has a market cap of C$5.69 billion and a PE ratio of 16.31. The firm has a 50 day simple moving average of C$44.67 and a two-hundred day simple moving average of C$43.72.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of C$991.90 million for the quarter, compared to analyst estimates of C$1 billion. As a group, equities research analysts forecast that Definity Financial will post 2.6896762 EPS for the current fiscal year.

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.