Definity Financial Co. (TSE:DFY) Forecasted to Post Q1 2024 Earnings of $0.70 Per Share

Definity Financial Co. (TSE:DFY) – Investment analysts at Desjardins upped their Q1 2024 EPS estimates for Definity Financial in a research report issued to clients and investors on Monday, April 15th. Desjardins analyst D. Young now forecasts that the company will earn $0.70 per share for the quarter, up from their previous forecast of $0.62. Desjardins currently has a “Hold” rating and a $45.00 price objective on the stock. The consensus estimate for Definity Financial’s current full-year earnings is $2.79 per share. Desjardins also issued estimates for Definity Financial’s FY2024 earnings at $2.68 EPS.

Other analysts also recently issued research reports about the stock. Scotiabank upped their price target on shares of Definity Financial from C$46.00 to C$49.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. BMO Capital Markets boosted their price objective on shares of Definity Financial from C$40.00 to C$44.00 and gave the company a “market perform” rating in a research report on Tuesday, February 20th. Raymond James boosted their price objective on shares of Definity Financial from C$42.00 to C$46.00 and gave the company a “market perform” rating in a research report on Friday, February 16th. CIBC boosted 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. Finally, National Bankshares boosted their price objective on shares of Definity Financial from C$57.00 to C$59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$47.30.

Definity Financial Stock Up 0.8 %

Shares of TSE DFY opened at C$44.04 on Tuesday. Definity Financial has a 12-month low of C$32.09 and a 12-month high of C$47.50. The company has a market capitalization of C$5.10 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31. The firm’s 50-day moving average is C$43.77 and its two-hundred day moving average is C$39.84.

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

Definity Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.16 per share. This is a positive change from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 14th. This represents a $0.64 annualized dividend and a yield of 1.45%. Definity Financial’s dividend payout ratio is 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.