Desjardins Increases Definity Financial (TSE:DFY) Price Target to C$45.00

Definity Financial (TSE:DFY) had its target price raised by investment analysts at Desjardins from C$44.00 to C$45.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential upside of 2.34% from the company’s current price. Desjardins also issued estimates for Definity Financial’s Q1 2024 earnings at $0.70 EPS and FY2024 earnings at $2.68 EPS.

Several other equities analysts have also recently issued reports on DFY. CIBC lifted their price target on Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Tuesday. BMO Capital Markets lifted their target price on Definity Financial from C$40.00 to C$44.00 and gave the stock a “market perform” rating in a report on Tuesday, February 20th. Raymond James lifted their target price on Definity Financial from C$42.00 to C$46.00 and gave the stock a “market perform” rating in a report on Friday, February 16th. Cormark lifted their target price on Definity Financial from C$42.00 to C$43.00 in a report on Friday, February 16th. Finally, Royal Bank of Canada lifted their target price on Definity Financial from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$47.30.

Definity Financial Trading Down 0.2 %

TSE:DFY opened at C$43.97 on Tuesday. The company has a market cap of C$5.10 billion, a PE ratio of 14.66, a P/E/G ratio of 2.63 and a beta of 0.08. Definity Financial has a 52 week low of C$32.09 and a 52 week high of C$47.50. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99. The business’s 50 day moving average is C$43.88 and its two-hundred day moving average is C$39.87.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, beating the consensus estimate of C$0.74 by C$0.12. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. The firm had revenue of C$1 billion for the quarter. On average, analysts predict that Definity Financial will post 2.7913715 EPS for the current year.

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.