Equities Analysts Offer Predictions for Definity Financial Co.'s Q1 2024 Earnings (TSE:DFY)

Definity Financial Co. (TSE:DFY - Free Report) - Analysts at Cormark issued their Q1 2024 earnings per share (EPS) estimates for shares of Definity Financial in a note issued to investors on Wednesday, May 1st. Cormark analyst L. Persaud anticipates that the company will earn $0.74 per share for the quarter. The consensus estimate for Definity Financial's current full-year earnings is $2.79 per share. Cormark also issued estimates for Definity Financial's FY2024 earnings at $2.77 EPS and FY2025 earnings at $3.00 EPS.

Definity Financial (TSE:DFY - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.74 by C$0.12. The business had revenue of C$1 billion during the quarter. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada raised their price objective on Definity Financial from C$49.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Monday. TD Securities raised their price objective on Definity Financial from C$45.00 to C$49.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. BMO Capital Markets raised their price objective on Definity Financial from C$40.00 to C$44.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 20th. CIBC raised their target price on Definity Financial from C$46.00 to C$47.00 and gave the company an "outperform" rating in a report on Tuesday, April 16th. Finally, National Bankshares raised their target price on Definity Financial from C$59.00 to C$60.00 and gave the company an "outperform" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$47.70.

Definity Financial Trading Up 0.1 %

Shares of TSE:DFY traded up C$0.04 during midday trading on Friday, reaching C$46.05. 118,799 shares of the company's stock were exchanged, compared to its average volume of 106,161. The firm's 50 day simple moving average is C$44.87 and its two-hundred day simple moving average is C$40.39. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31. The stock has a market cap of C$5.34 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 2.63 and a beta of 0.08. Definity Financial has a fifty-two week low of C$32.09 and a fifty-two week high of C$47.50.

Definity Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 14th. This is a boost from Definity Financial's previous quarterly dividend of $0.14. Definity Financial's dividend payout ratio (DPR) is presently 21.33%.

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.