Equities Analysts Set Expectations for TSE:DFY Q3 Earnings

Definity Financial Co. (TSE:DFY) – Equities researchers at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for shares of 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 earn ($0.09) per share for the quarter, down from their prior forecast 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 several other reports. TD Securities raised their target price on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday, September 20th. Cormark lowered shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Royal Bank of Canada upped their price target on shares of Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Finally, Desjardins increased their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$53.70.

Definity Financial Price Performance

Shares of TSE:DFY opened at C$54.03 on Friday. 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. The stock has a market capitalization of C$6.21 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. The firm’s 50 day moving average price is C$52.52 and its 200-day moving average price is C$47.97.

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

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.