Q1 2024 EPS Estimates for Definity Financial Co. (TSE:DFY) Raised by Desjardins

Definity Financial Co. (TSE:DFY) – Equities researchers at Desjardins upped their Q1 2024 EPS estimates for Definity Financial in a research note issued to investors on Monday, April 15th. Desjardins analyst D. Young now forecasts that the company will earn $0.70 per share for the quarter, up from their prior estimate of $0.62. Desjardins currently has a “Hold” rating and a $45.00 target price on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Desjardins also issued estimates for Definity Financial’s FY2024 earnings at $2.68 EPS.

DFY has been the topic of a number of other reports. Cormark upped their price target on shares of Definity Financial from C$42.00 to C$43.00 in a research note on Friday, February 16th. Raymond James upped their price target on shares of Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a research note on Friday, February 16th. TD Securities upped their price objective on shares of Definity Financial from C$45.00 to C$49.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Royal Bank of Canada upped 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 report on Friday, February 16th. Finally, CIBC upped 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 report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Definity Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$47.30.

Definity Financial Trading Down 0.2 %

TSE DFY opened at C$43.97 on Tuesday. Definity Financial has a 1-year low of C$32.09 and a 1-year high of C$47.50. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. The company has a market capitalization of C$5.10 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The firm’s fifty day simple moving average is C$43.88 and its 200-day simple moving average is C$39.87.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%. The business had revenue of C$1 billion for the quarter.

Definity Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 14th. 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.