Cormark Has Negative Outlook for TSE:LB FY2024 Earnings

Laurentian Bank of Canada (TSE:LB) – Analysts at Cormark reduced their FY2024 EPS estimates for Laurentian Bank of Canada in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings of $3.53 per share for the year, down from their prior forecast of $3.56. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.84 per share. Cormark also issued estimates for Laurentian Bank of Canada’s FY2025 earnings at $3.79 EPS and FY2026 earnings at $4.07 EPS.

Several other analysts have also recently issued reports on LB. BMO Capital Markets upped their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Desjardins upped their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Raymond James upped their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. CIBC upped their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday. Finally, Scotiabank upped their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$27.10.

Laurentian Bank of Canada Stock Up 0.3 %

LB stock opened at C$29.39 on Tuesday. The stock has a market capitalization of C$1.29 billion, a P/E ratio of -47.15, a P/E/G ratio of 0.76 and a beta of 1.25. The firm has a 50-day simple moving average of C$27.13 and a 200-day simple moving average of C$26.61. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.55.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. The business had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were issued a $0.47 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.40%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.