Definity Financial Co. (TSE:DFY) Forecasted to Post Q1 2024 Earnings of $0.70 Per Share

Definity Financial Co. (TSE:DFY) – Stock analysts at Desjardins upped their Q1 2024 EPS estimates for shares of Definity Financial in a research note issued on Monday, April 15th. Desjardins analyst D. Young now expects that the company will earn $0.70 per share for the quarter, up from their previous forecast of $0.62. Desjardins has a “Hold” rating and a $45.00 price target 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.

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

A number of other research firms also recently issued reports on DFY. Royal Bank of Canada upped their target price on shares of Definity Financial from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Cormark upped their target price on shares of Definity Financial from C$42.00 to C$43.00 in a research report on Friday, February 16th. TD Securities upped their target price on shares of Definity Financial from C$45.00 to C$49.00 and gave the company a “buy” rating in a research report on Friday, February 16th. BMO Capital Markets upped their target price on shares of Definity Financial from C$40.00 to C$44.00 and gave the company a “market perform” rating in a research report on Tuesday, February 20th. Finally, National Bankshares increased their price target on shares of Definity Financial from C$57.00 to C$59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$47.30.

Definity Financial Stock Performance

Definity Financial stock opened at C$44.04 on Tuesday. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$47.50. The company has a market cap of C$5.10 billion, a PE ratio of 14.68, a PEG ratio of 2.63 and a beta of 0.08. The company’s 50-day moving average is C$43.77 and its two-hundred day moving average is C$39.84.

Definity Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 yield of 1.45%. 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 presently 21.33%.

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.