Definity Financial Co. to Post Q3 2023 Earnings of $0.03 Per Share, Cormark Forecasts (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Cormark lowered their Q3 2023 EPS estimates for shares of Definity Financial in a research note issued on Monday, November 6th. Cormark analyst L. Persaud now expects that the company will earn $0.03 per share for the quarter, down from their prior estimate of $0.57. The consensus estimate for Definity Financial’s current full-year earnings is $2.50 per share. Cormark also issued estimates for Definity Financial’s FY2023 earnings at $1.76 EPS.

Several other brokerages have also weighed in on DFY. Royal Bank of Canada lowered their target price on shares of Definity Financial from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 24th. TD Securities increased their price objective on shares of Definity Financial from C$42.00 to C$43.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. National Bankshares boosted their target price on Definity Financial from C$52.00 to C$53.00 in a research report on Monday, August 14th. CIBC raised their price target on Definity Financial from C$39.50 to C$40.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Finally, Raymond James lifted their price objective on Definity Financial from C$39.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, October 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$43.05.

Definity Financial Price Performance

Definity Financial stock opened at C$37.82 on Wednesday. The company has a current ratio of 15.37, a quick ratio of 0.31 and a debt-to-equity ratio of 5.19. The company has a 50-day moving average price of C$37.84 and a 200 day moving average price of C$36.61. Definity Financial has a 12-month low of C$32.09 and a 12-month high of C$40.42. The stock has a market cap of C$4.38 billion and a P/E ratio of 8.26.

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 Economical brand name.