National Bankshares Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Definity Financial (TSE:DFY) had its target price raised by National Bankshares from C$62.00 to C$65.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. Scotiabank lifted their price target on shares of Definity Financial from C$51.00 to C$53.00 in a research note on Friday, September 20th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and raised their price target for the company from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Royal Bank of Canada upped their price objective on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Finally, TD Securities raised their target price on shares of Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. 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, Definity Financial has a consensus rating of “Hold” and an average price target of C$53.70.

Definity Financial Trading Up 0.6 %

DFY stock opened at C$54.03 on Wednesday. The firm’s fifty day simple moving average is C$52.52 and its two-hundred day simple moving average is C$48.00. The stock has a market capitalization of C$6.21 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. 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 has a twelve month low of C$35.48 and a twelve month high of C$55.86.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$1.07 billion. As a group, analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current year.

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.