Q1 2024 Earnings Estimate for Definity Financial Co. Issued By Cormark (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Stock analysts at Cormark issued their Q1 2024 earnings estimates for Definity Financial in a research note issued on Wednesday, May 1st. Cormark analyst L. Persaud forecasts that the company will earn $0.74 per share for the quarter. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Cormark also issued estimates for Definity Financial’s FY2024 earnings at $2.77 EPS and FY2025 earnings at $3.00 EPS.

A number of other research analysts have also recently commented on DFY. Raymond James raised their price target on Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. National Bankshares raised their target price on shares of Definity Financial from C$59.00 to C$60.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. TD Securities upped their price target 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 lifted their price objective on shares of Definity Financial from C$49.00 to C$50.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Finally, Desjardins upped their target price on 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Definity Financial has an average rating of “Moderate Buy” and a consensus price target of C$47.70.

Definity Financial Price Performance

Definity Financial stock opened at C$46.05 on Friday. The firm has a market cap of C$5.34 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31. The stock’s fifty day moving average price is C$44.90 and its two-hundred day moving average price is C$40.43. Definity Financial has a one year low of C$32.09 and a one year high of C$47.50.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping the consensus estimate of C$0.74 by C$0.12. The company 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%.

Definity Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 14th. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. Definity Financial’s payout ratio is presently 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.