Brokers Issue Forecasts for Definity Financial Co.’s Q1 2024 Earnings (TSE:DFY)

Definity Financial Co. (TSE:DFY) – Cormark issued their Q1 2024 EPS estimates for Definity Financial in a report released on Wednesday, May 1st. Cormark analyst L. Persaud forecasts that the company will post earnings of $0.74 per share for the quarter. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Cormark also issued estimates for Definity Financial’s FY2024 earnings at $2.77 EPS and FY2025 earnings at $3.00 EPS.

A number of other brokerages also recently issued reports on DFY. BMO Capital Markets upped their price objective on shares of Definity Financial from C$40.00 to C$44.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 20th. Desjardins upped their price objective on shares of Definity Financial from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research report on Tuesday, April 16th. Raymond James upped their price objective on shares of Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a research report on Friday, February 16th. Scotiabank upped their price objective on shares of Definity Financial from C$49.00 to C$51.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, CIBC upped their price objective on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. 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 company has an average rating of “Moderate Buy” and an average price target of C$47.70.

Definity Financial Trading Up 0.1 %

Shares of DFY stock opened at C$46.05 on Friday. Definity Financial has a 52-week low of C$32.09 and a 52-week high of C$47.50. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.31 and a current ratio of 4.68. The company has a 50-day simple moving average of C$44.87 and a two-hundred day simple moving average of C$40.39. The company has a market capitalization of C$5.34 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 2.63 and a beta of 0.08.

Definity Financial (TSE:DFY) last posted its earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping the consensus estimate of C$0.74 by C$0.12. The company 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 Increases Dividend

The firm also recently declared 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 is a boost from Definity Financial’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 14th. Definity Financial’s dividend payout ratio is presently 21.33%.

About Definity Financial

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.