FY2024 EPS Estimates for EQB Cut by National Bank Financial

EQB Inc. (TSE:EQB) – Equities research analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of EQB in a note issued to investors on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now forecasts that the company will post earnings of $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.

Several other analysts have also weighed in on EQB. BMO Capital Markets raised their price objective on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Cormark reduced their price target on shares of 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. CIBC upped their price objective on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Scotiabank dropped their price objective on shares of EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Finally, TD Securities decreased their target price on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQB currently has an average rating of “Moderate Buy” and a consensus target price of C$108.88.

EQB Stock Performance

Shares of EQB stock opened at C$110.35 on Friday. EQB has a fifty-two week low of C$73.12 and a fifty-two week high of C$111.53. The company has a market cap of C$4.24 billion, a PE ratio of 11.59, a P/E/G ratio of 0.34 and a beta of 1.59. The stock’s fifty day moving average price is C$105.90 and its two-hundred day moving average price is C$96.92.

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

EQB Increases Dividend

The firm also recently declared 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 boost from EQB’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, September 13th. EQB’s dividend payout ratio is 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.