TD Securities Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Definity Financial (TSE:DFY) had its price objective lifted by equities research analysts at TD Securities from C$58.00 to C$59.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective indicates a potential upside of 7.64% from the stock’s previous close.

DFY has been the subject of several other research reports. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and upped their price target for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Cibc World Mkts cut Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. National Bankshares boosted their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$54.10.

Definity Financial Price Performance

Shares of DFY stock traded down C$0.66 during mid-day trading on Friday, reaching C$54.81. The stock had a trading volume of 123,900 shares, compared to its average volume of 105,492. 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 company has a market cap of C$6.30 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04. Definity Financial has a 12-month low of C$35.48 and a 12-month high of C$58.73. The business has a 50-day simple moving average of C$52.93 and a 200 day simple moving average of C$48.28.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, topping the consensus estimate of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.10 billion during the quarter, compared to analyst estimates of C$1.10 billion. On average, sell-side analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current year.

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.