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

Definity Financial (TSE:DFY) had its target price hoisted by stock analysts at Scotiabank from C$51.00 to C$53.00 in a research note issued on Friday, BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 1.44% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. TD Securities increased their price target on shares of Definity Financial from C$52.00 to C$55.00 in a research note on Friday. Cormark increased their target price on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. National Bankshares increased their price objective on Definity Financial from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, Raymond James raised their price objective on Definity Financial from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Definity Financial presently has an average rating of “Hold” and a consensus price target of C$53.10.

Definity Financial Trading Up 4.8 %

TSE DFY opened at C$52.25 on Friday. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. Definity Financial has a fifty-two week low of C$35.48 and a fifty-two week high of C$52.26. The stock has a market cap of C$6.00 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. The stock has a 50 day simple moving average of C$48.84 and a two-hundred day simple moving average of C$45.98.

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

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.