Analysts Issue Forecasts for TSE:DFY FY2024 Earnings

Definity Financial Co. (TSE:DFY) – Equities researchers at National Bank Financial upped their FY2024 EPS estimates for shares of Definity Financial in a note issued to investors on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of $2.58 for the year, up from their prior forecast of $2.53. The consensus estimate for Definity Financial’s current full-year earnings is $3.13 per share. National Bank Financial also issued estimates for Definity Financial’s FY2025 earnings at $3.22 EPS and FY2026 earnings at $3.65 EPS.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%.

Other analysts have also issued reports about the company. BMO Capital Markets raised their price target on Definity Financial from C$53.00 to C$57.00 in a research note on Monday, November 11th. National Bankshares lifted their price target on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. TD Securities raised their price objective on shares of Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Scotiabank cut shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Raymond James lowered shares of Definity Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$53.00 to C$55.00 in a research note on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Definity Financial has an average rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Trading Up 3.6 %

TSE:DFY opened at C$59.22 on Tuesday. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The stock has a market capitalization of C$6.80 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.63 and a beta of 0.04. Definity Financial has a 1 year low of C$37.83 and a 1 year high of C$60.78. The stock has a fifty day moving average price of C$57.41 and a two-hundred day moving average price of C$53.86.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, December 13th. Definity Financial’s payout ratio is currently 19.34%.

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.