Desjardins Lowers Definity Financial (TSE:DFY) Price Target to C$73.00

Key Points

• Desjardins cut its price target on Definity Financial to C$73.00 (from C$75.00) and kept a Hold rating, implying about an 8.08% upside from the prior close.
• Analyst sentiment is mixed with a consensus Hold rating and a consensus price target of C$79.80; three analysts rate the stock Buy and four rate it Hold, with individual targets ranging roughly C$72–C$88.
• DFY last traded at C$67.54, has a market cap of C$8.10B and a P/E of 19.24; the company reported quarterly EPS of C$0.99 on C$1.10B revenue and analysts forecast about 3.13 EPS for the year.

Definity Financial (TSE:DFY - Get Free Report) had its price objective lowered by Desjardins from C$75.00 to C$73.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price objective suggests a potential upside of 8.08% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the stock. Barclays lowered their price target on shares of Definity Financial from C$81.00 to C$78.00 in a research note on Wednesday, April 8th. Jefferies Financial Group set a C$88.00 price target on shares of Definity Financial and gave the stock a "buy" rating in a research note on Wednesday, January 7th. Raymond James Financial lowered their price target on shares of Definity Financial from C$74.00 to C$72.00 and set a "market perform" rating on the stock in a research note on Friday, February 13th. Finally, Scotiabank upped their price target on shares of Definity Financial from C$65.00 to C$80.00 in a research note on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of C$79.80.

Definity Financial Stock Performance

DFY traded down C$0.65 during trading on Monday, hitting C$67.54. The stock had a trading volume of 92,587 shares, compared to its average volume of 181,853. The company has a debt-to-equity ratio of 28.76, a quick ratio of 0.31 and a current ratio of 0.27. The firm has a market capitalization of C$8.10 billion, a P/E ratio of 19.24, a PEG ratio of 2.63 and a beta of 0.07. The company's 50-day moving average price is C$66.58 and its 200 day moving average price is C$69.24. Definity Financial has a twelve month low of C$61.87 and a twelve month high of C$79.95.

Definity Financial (TSE:DFY - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported C$0.99 earnings per share (EPS) for the quarter. The company had revenue of C$1.10 billion for the quarter. Definity Financial had a net margin of 8.58% and a return on equity of 11.01%. On average, equities research analysts forecast that Definity Financial will post 3.1263962 EPS for the current fiscal year.

About Definity Financial

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.

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