FY2024 EPS Estimates for TSE:DFY Boosted by Analyst

Definity Financial Co. (TSE:DFY) – National Bank Financial upped their FY2024 earnings per share (EPS) estimates for shares of Definity Financial in a report released on Sunday, November 10th. National Bank Financial analyst J. Gloyn now anticipates that the company will post earnings per share of $2.53 for the year, up from their previous forecast of $2.38. 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 Q4 2024 earnings at $0.82 EPS.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.04) by C$0.17. The firm had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%.

DFY has been the topic of a number of other reports. Scotiabank raised their price objective on Definity Financial from C$51.00 to C$53.00 in a report on Friday, September 20th. Desjardins raised their price objective on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. TD Securities raised their price objective on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. BMO Capital Markets lifted their price target on Definity Financial from C$53.00 to C$57.00 in a research note on Monday. Finally, Royal Bank of Canada lifted their price target on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Performance

Shares of DFY opened at C$56.31 on Wednesday. The company has a market cap of C$6.47 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. 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 stock has a 50-day moving average price of C$53.24 and a 200-day moving average price of C$48.52. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$58.73.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, December 13th. Definity Financial’s payout ratio is currently 19.34%.

Definity Financial Company Profile

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.