Definity Financial (TSE:DFY) Price Target Raised to C$53.00

Definity Financial (TSE:DFY) had its price target raised by investment analysts at Scotiabank from C$51.00 to C$53.00 in a research report issued on Friday, BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 3.94% from the company’s current price.

A number of other equities research analysts also recently weighed in on DFY. Raymond James lifted their price objective on Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Cibc World Mkts downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Royal Bank of Canada boosted their target price on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Finally, TD Securities boosted their target price on Definity Financial from C$52.00 to C$55.00 in a report on Friday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Definity Financial presently has an average rating of “Hold” and a consensus target price of C$53.10.

Definity Financial Stock Performance

DFY traded up C$1.15 on Friday, hitting C$50.99. 83,810 shares of the stock traded hands, compared to its average volume of 96,647. 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 business has a fifty day moving average price of C$48.61 and a two-hundred day moving average price of C$45.91. The firm has a market capitalization of C$5.86 billion, a PE ratio of 15.46, a P/E/G ratio of 2.63 and a beta of 0.01. Definity Financial has a 52 week low of C$35.48 and a 52 week high of C$51.18.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The company had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, research analysts predict that Definity Financial will post 3.1395647 EPS for the current fiscal 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.