Definity Financial (TSE:DFY) Price Target Increased to C$51.00 by Analysts at Scotiabank

Definity Financial (TSE:DFY) had its price objective increased by Scotiabank from C$49.00 to C$51.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

DFY has been the topic of several other research reports. Cormark increased their price objective on shares of Definity Financial from C$42.00 to C$43.00 in a research note on Friday, February 16th. National Bankshares increased their price objective on shares of Definity Financial from C$57.00 to C$59.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. CIBC increased their price objective on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. Desjardins increased their price objective on shares of Definity Financial from C$44.00 to C$45.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada increased their price objective on shares of Definity Financial from C$48.00 to C$49.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$47.50.

Definity Financial Stock Performance

Shares of Definity Financial stock opened at C$45.40 on Friday. The firm has a market cap of C$5.26 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The firm’s 50-day simple moving average is C$44.66 and its 200-day simple moving average is C$40.18. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.31 and a current ratio of 4.68. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$47.50.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. The business had revenue of C$1 billion for the quarter. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%. Equities analysts forecast that Definity Financial will post 2.7913715 earnings per share for the current fiscal year.

Definity Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.16 dividend. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 14th. This represents a $0.64 annualized dividend and a yield of 1.41%. Definity Financial’s dividend payout ratio is 21.33%.

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.