FY2024 Earnings Estimate for EQB Issued By Raymond James

EQB Inc. (TSE:EQB) – Equities researchers at Raymond James decreased their FY2024 earnings estimates for shares of EQB in a research report issued to clients and investors on Tuesday, November 19th. Raymond James analyst S. Boland now forecasts that the company will post earnings per share of $11.42 for the year, down from their prior forecast of $11.49. The consensus estimate for EQB’s current full-year earnings is $12.60 per share. Raymond James also issued estimates for EQB’s Q4 2024 earnings at $2.94 EPS and Q4 2025 earnings at $3.24 EPS.

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

EQB has been the subject of several other research reports. Cormark reduced their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Scotiabank reduced their price target on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. CIBC lifted their price objective on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. BMO Capital Markets upped their target price on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Finally, TD Securities reduced their target price on shares of 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. One equities 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$108.00.

EQB Stock Up 0.9 %

TSE:EQB opened at C$110.35 on Friday. The company has a fifty day moving average of C$105.67 and a 200-day moving average of C$96.76. The firm has a market capitalization of C$4.24 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.34 and a beta of 1.59. EQB has a twelve month low of C$73.12 and a twelve month high of C$111.53.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.47 per share. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a yield of 1.70%. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s dividend payout ratio (DPR) is currently 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.