Q2 2024 Earnings Forecast for Definity Financial Co. (TSE:DFY) Issued By National Bank Financial

Definity Financial Co. (TSE:DFY) – Equities research analysts at National Bank Financial increased their Q2 2024 earnings estimates for Definity Financial in a research report issued to clients and investors on Sunday, May 12th. National Bank Financial analyst J. Gloyn now expects that the company will earn $0.65 per share for the quarter, up from their prior forecast of $0.64. The consensus estimate for Definity Financial’s current full-year earnings is $2.66 per share. National Bank Financial also issued estimates for Definity Financial’s Q3 2024 earnings at $0.56 EPS and FY2024 earnings at $2.66 EPS.

A number of other brokerages have also commented on DFY. Jefferies Financial Group cut their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating for the company in a research report on Monday. CIBC upped their price objective on shares of Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. TD Securities upped their price objective 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. National Bankshares increased their price target on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Finally, Scotiabank dropped their price target on shares of Definity Financial from C$52.00 to C$51.00 and set an “outperform” rating for the company in a research report on Monday. Three 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, Definity Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$48.32.

Definity Financial Stock Down 0.7 %

Shares of DFY opened at C$43.68 on Wednesday. The company has a 50-day simple moving average of C$44.91 and a 200-day simple moving average of C$40.83. The firm has a market capitalization of C$5.03 billion and a P/E ratio of 14.56. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.31 and a current ratio of 4.68. Definity Financial has a 52 week low of C$32.09 and a 52 week high of C$47.50.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. The business had revenue of C$1 billion during the quarter. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 13th. Definity Financial’s payout ratio is 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.