Royal Bank of Canada Increases Definity Financial (TSE:DFY) Price Target to C$49.00

Posted by on Aug 6th, 2023

Definity Financial (TSE:DFY – Get Free Report) had its target price raised by analysts at Royal Bank of Canada from C$46.00 to C$49.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 35.58% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Scotiabank cut their price target on Definity Financial from C$50.00 to C$44.00 and set an “outperform” rating on the stock in a report on Monday, July 24th. Desjardins downgraded Definity Financial from a “buy” rating to a “hold” rating in a report on Friday, May 12th. TD Securities raised their price target on Definity Financial from C$42.00 to C$43.00 and gave the stock a “buy” rating in a report on Friday. National Bankshares raised their price target on Definity Financial from C$48.00 to C$51.00 in a report on Tuesday, May 2nd. Finally, Barclays cut their price target on Definity Financial from C$43.00 to C$42.00 in a report on Tuesday, May 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Definity Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$42.55.

Definity Financial Price Performance

DFY stock opened at C$36.14 on Friday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.31 and a current ratio of 10.55. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$40.95. The firm has a market cap of C$4.19 billion and a P/E ratio of 10.95. The stock has a 50-day simple moving average of C$35.19 and a 200-day simple moving average of C$35.73.

Definity Financial (TSE:DFY – Get Free Report) last released its earnings results on Thursday, May 11th. The company reported C$0.54 EPS for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.02). Definity Financial had a return on equity of 15.17% and a net margin of 10.04%. The firm had revenue of C$907.50 million for the quarter. On average, equities analysts predict that Definity Financial will post 2.2191693 earnings per share for the current fiscal year.

About Definity Financial

(Get Free Report)

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 Economical brand name.

Read More

Analyst Recommendations for Definity Financial (TSE:DFY)

Receive News & Ratings for Definity Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Definity Financial and related companies with MarketBeat.com's FREE daily email newsletter.