Q3 EPS Forecast for Definity Financial Lowered by Analyst

Definity Financial Co. (TSE:DFY) – Analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for Definity Financial in a research report issued to clients and investors on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of ($0.09) for the quarter, down from their previous estimate of $0.23. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. National Bank Financial also issued estimates for Definity Financial’s FY2024 earnings at $2.38 EPS.

DFY has been the subject of a number of other research reports. Royal Bank of Canada increased their price target on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cibc World Mkts lowered Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Scotiabank increased their price objective on Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. National Bankshares boosted their target price on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Desjardins upped their price target on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Definity Financial currently has an average rating of “Hold” and an average target price of C$53.70.

Definity Financial Price Performance

DFY stock opened at C$53.73 on Friday. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The company has a market capitalization of C$6.17 billion, a P/E ratio of 16.23, a PEG ratio of 2.63 and a beta of 0.04. The business has a 50 day simple moving average of C$52.43 and a 200-day simple moving average of C$47.92. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$55.86.

Definity Financial (TSE:DFY) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.66 by C$0.28. The company had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%.

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.