National Bank Financial Lowers Earnings Estimates for EQB

EQB Inc. (TSE:EQB) – Investment analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for EQB in a report released on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now anticipates that the company will earn $11.35 per share for the year, down from their previous forecast of $11.51. The consensus estimate for EQB’s current full-year earnings is $12.60 per share.

Several other equities analysts have also recently weighed in on the company. Cormark decreased their price objective on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. TD Securities decreased their price target on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. BMO Capital Markets upped their price objective on EQB from C$106.00 to C$119.00 in a research note on Monday. CIBC raised their target price on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Finally, Scotiabank lowered their target price on shares of EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$108.00.

EQB Trading Up 0.9 %

EQB stock opened at C$109.40 on Friday. EQB has a 1-year low of C$71.90 and a 1-year high of C$109.80. The company has a fifty day simple moving average of C$105.43 and a 200 day simple moving average of C$96.67. The company has a market cap of C$4.20 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last issued its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping the consensus estimate of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio (DPR) is 19.75%.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.