Cormark Has Pessimistic Outlook of EQB FY2024 Earnings

EQB Inc. (TSE:EQB) – Cormark lowered their FY2024 earnings per share (EPS) estimates for EQB in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now expects that the company will earn $11.47 per share for the year, down from their previous forecast of $11.53. Cormark currently has a “Buy” rating and a $111.00 target price on the stock. The consensus estimate for EQB’s current full-year earnings is $12.60 per share. Cormark also issued estimates for EQB’s Q4 2024 earnings at $2.94 EPS, FY2025 earnings at $12.48 EPS and FY2026 earnings at $14.24 EPS.

EQB has been the subject of several other reports. Raymond James reduced their target price on EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Scotiabank upped their price target on EQB from C$109.00 to C$135.00 in a research report on Monday. CIBC upped their price target on EQB from C$113.00 to C$130.00 in a research report on Tuesday. BMO Capital Markets upped their price target on EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. Finally, TD Securities dropped their price target on EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$114.25.

EQB Stock Up 0.7 %

Shares of TSE EQB opened at C$111.33 on Tuesday. EQB has a 12 month low of C$74.00 and a 12 month high of C$111.95. The company has a market cap of C$4.27 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 0.34 and a beta of 1.59. The business has a fifty day simple moving average of C$106.13 and a 200-day simple moving average of C$97.25.

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

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a $0.47 dividend. This is a positive change from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.69%. The ex-dividend date was Friday, September 13th. EQB’s dividend payout ratio is presently 19.75%.

About EQB

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.