Definity Financial (TSE:DFY) Downgraded by Cormark to “Hold”

Cormark cut shares of Definity Financial (TSE:DFY) from a moderate buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports. Cormark also issued estimates for Definity Financial’s FY2025 earnings at $3.25 EPS.

Several other brokerages have also weighed in on DFY. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Scotiabank raised their price objective on shares of Definity Financial from C$51.00 to C$53.00 in a research report on Friday, September 20th. National Bankshares boosted their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada increased their target price on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Finally, TD Securities lifted their price target on shares of Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$53.70.

Definity Financial Trading Down 1.3 %

Shares of TSE:DFY opened at C$54.43 on Wednesday. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$55.86. 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 firm has a market cap of C$6.25 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.63 and a beta of 0.04. The company has a 50 day moving average of C$52.36 and a 200-day moving average of C$47.88.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$1.07 billion. As a group, analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current fiscal 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.