FY2024 EPS Estimates for EQB Cut by National Bank Financial

EQB Inc. (TSE:EQB) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share estimates for shares of EQB in a research report issued 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 estimate of $11.51. The consensus estimate for EQB’s current full-year earnings is $12.60 per share.

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

A number of other equities research analysts also recently commented on the company. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a research report on Wednesday, August 21st. Cormark cut their price objective on EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Securities decreased their price objective on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. CIBC upped their target price on EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Finally, Scotiabank cut their price objective on EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$108.00.

EQB Stock Performance

EQB stock opened at C$110.35 on Friday. The company has a market capitalization of C$4.24 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.34 and a beta of 1.59. EQB has a fifty-two week low of C$73.12 and a fifty-two week high of C$111.53. The stock has a fifty day moving average of C$105.67 and a two-hundred day moving average of C$96.76.

EQB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio is presently 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.