Cormark Equities Analysts Lift Earnings Estimates for Definity Financial Co. (TSE:DFY)

Definity Financial Co. (TSE:DFY – Get Rating) – Investment analysts at Cormark upped their FY2022 earnings per share (EPS) estimates for shares of Definity Financial in a report released on Friday, May 6th. Cormark analyst L. Persaud now forecasts that the company will post earnings of $1.81 per share for the year, up from their prior forecast of $1.70. Cormark also issued estimates for Definity Financial’s FY2023 earnings at $2.07 EPS.

A number of other analysts also recently weighed in on DFY. Barclays reiterated an “overweight” rating and set a C$32.00 target price on shares of Definity Financial in a research report on Friday, February 11th. CIBC set a C$41.50 price target on Definity Financial and gave the company an “outperform” rating in a research note on Thursday, April 21st. TD Securities increased their price target on Definity Financial from C$33.00 to C$35.00 and gave the company a “buy” rating in a research note on Monday, February 14th. National Bankshares increased their price target on Definity Financial from C$36.00 to C$37.00 in a research note on Thursday, April 28th. Finally, Raymond James increased their price target on Definity Financial from C$32.00 to C$33.50 and gave the company an “outperform” rating in a research note on Monday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Definity Financial currently has an average rating of “Buy” and a consensus price target of C$35.67.

Shares of TSE DFY opened at C$32.87 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.29 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of C$32.03. Definity Financial has a one year low of C$26.00 and a one year high of C$35.40. The firm has a market cap of C$3.81 billion and a price-to-earnings ratio of 16.27.

Definity Financial (TSE:DFY – Get Rating) last posted its quarterly earnings results on Thursday, February 10th. The company reported C$0.42 earnings per share for the quarter, topping the consensus estimate of C$0.38 by C$0.04. The company had revenue of C$749.60 million for the quarter, compared to analyst estimates of C$766.00 million.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 28th. Shareholders of record on Tuesday, March 15th were paid a $0.175 dividend. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.70 dividend on an annualized basis and a yield of 2.13%. Definity Financial’s dividend payout ratio (DPR) is presently 34.65%.

About Definity Financial (Get Rating)

Definity Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in Canada. It offers 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 comprising fleet, commercial auto, property, liability, and specialty insurance products to businesses under the under the Economical brand name.

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