BMO Capital Markets Issues Positive Forecast for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price target lifted by BMO Capital Markets from C$53.00 to C$57.00 in a report released on Monday morning,BayStreet.CA reports.

DFY has been the subject of several other research reports. TD Securities lifted their target price on shares of Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a report on Friday. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Desjardins increased their target price 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. National Bankshares boosted their price target on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank increased their price objective on Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$55.00.

Definity Financial Price Performance

Shares of TSE DFY opened at C$55.02 on Monday. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$58.73. The company has a market cap of C$6.32 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The business’s 50 day moving average price is C$53.14 and its two-hundred day moving average price is C$48.45. The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The business had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. On average, analysts predict that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.16%. Definity Financial’s dividend payout ratio is 19.34%.

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.