CIBC Lowers Definity Financial (TSE:DFY) to Neutral

CIBC lowered shares of Definity Financial (TSE:DFY) from an outperform rating to a neutral rating in a research report report published on Tuesday, BayStreet.CA reports. CIBC currently has C$51.00 price objective on the stock, up from their prior price objective of C$47.00.

Other research analysts also recently issued research reports about the stock. Cormark boosted their target price on shares of Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. TD Securities upped their price objective on shares of Definity Financial from C$49.00 to C$52.00 in a report on Friday, August 2nd. National Bankshares raised their target price on Definity Financial from C$59.00 to C$60.00 and gave the company an outperform rating in a research note on Tuesday, April 30th. Desjardins boosted their target price on Definity Financial from C$47.00 to C$52.00 and gave the company a hold rating in a research report on Tuesday. Finally, Royal Bank of Canada increased their price target on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$52.70.

Definity Financial Trading Up 0.6 %

Shares of DFY stock opened at C$49.00 on Tuesday. The stock has a 50-day moving average of C$45.28 and a 200-day moving average of C$44.12. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The stock has a market cap of C$5.63 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.63 and a beta of 0.01. Definity Financial has a 1-year low of C$35.48 and a 1-year high of C$50.23.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.65 EPS for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The firm had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. On average, equities research analysts forecast that Definity Financial will post 2.920143 earnings per share for the current year.

Definity Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, September 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.