Cormark Has Bearish Estimate for TSE:NA FY2024 Earnings

National Bank of Canada (TSE:NA) – Research analysts at Cormark cut their FY2024 EPS estimates for National Bank of Canada in a research note issued on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings of $10.35 per share for the year, down from their previous forecast of $10.37. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.84 per share. Cormark also issued estimates for National Bank of Canada’s Q4 2024 earnings at $2.55 EPS.

Other equities research analysts have also recently issued research reports about the company. Desjardins increased their price target on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Jefferies Financial Group increased their target price on shares of National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. Royal Bank of Canada boosted their price target on shares of National Bank of Canada from C$113.00 to C$116.00 in a research report on Thursday, August 29th. CIBC increased their price objective on shares of National Bank of Canada from C$135.00 to C$141.00 in a research report on Tuesday. Finally, Cibc World Mkts lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$132.40.

National Bank of Canada Price Performance

NA opened at C$138.43 on Wednesday. National Bank of Canada has a fifty-two week low of C$87.92 and a fifty-two week high of C$138.79. The company’s 50 day moving average price is C$131.32 and its two-hundred day moving average price is C$120.68. The firm has a market capitalization of C$47.12 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The company had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%.

Insider Activity at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest purchased 285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of C$133.71 per share, with a total value of C$38,107.35. 0.21% of the stock is owned by insiders.

National Bank of Canada Company Profile

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.