Cormark Weighs in on Definity Financial Co.’s Q3 2022 Earnings (TSE:DFY)

Posted by MarketBeat News on Aug 6th, 2022

Definity Financial Co. (TSE:DFY – Get Rating) – Research analysts at Cormark decreased their Q3 2022 earnings per share estimates for shares of Definity Financial in a research report issued on Thursday, August 4th. Cormark analyst L. Persaud now expects that the company will earn $0.44 per share for the quarter, down from their previous estimate of $0.48. Cormark has a “Buy” rating and a $39.00 price objective on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.03 per share. Cormark also issued estimates for Definity Financial’s Q4 2022 earnings at $0.45 EPS, FY2022 earnings at $1.86 EPS, Q1 2023 earnings at $0.62 EPS, Q2 2023 earnings at $0.49 EPS, Q3 2023 earnings at $0.46 EPS, Q4 2023 earnings at $0.42 EPS and FY2023 earnings at $2.16 EPS.

Definity Financial (TSE:DFY – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported C$0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.40 by C$0.15. The firm had revenue of C$790.30 million for the quarter.

Several other research analysts also recently issued reports on the company. TD Securities upped their price objective on Definity Financial from C$39.00 to C$41.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their target price on shares of Definity Financial from C$38.00 to C$41.00 and gave the company an “overweight” rating in a research report on Thursday. National Bankshares upped their target price on shares of Definity Financial from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Wednesday. Scotiabank upped their target price on shares of Definity Financial from C$35.00 to C$36.00 in a research report on Thursday. Finally, CIBC dropped their target price on shares of Definity Financial from C$41.50 to C$39.50 and set an “outperform” rating for the company in a research report on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$39.60.

Definity Financial Stock Up 2.7 %

TSE:DFY opened at C$39.08 on Friday. The stock’s fifty day moving average price is C$34.27 and its two-hundred day moving average price is C$31.94. Definity Financial has a 52-week low of C$26.00 and a 52-week high of C$39.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.28 and a current ratio of 0.34. The company has a market cap of C$4.53 billion and a price-to-earnings ratio of 24.84.

Definity Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 28th. Investors of record on Wednesday, June 15th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, June 14th. Definity Financial’s dividend payout ratio is currently 19.11%.

Definity Financial Company Profile

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Definity Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in Canada. It offers 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 comprising fleet, commercial auto, property, liability, and specialty insurance products to businesses under the under the Economical brand name.