Cormark Has Bearish Estimate for EQB FY2024 Earnings

EQB Inc. (TSE:EQB) – Research analysts at Cormark cut their FY2024 earnings estimates for EQB in a research report issued to clients and investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will earn $11.47 per share for the year, down from their previous estimate 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.

Several other equities analysts have also commented on EQB. TD Securities lowered their price target on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research report on Friday, August 30th. CIBC upped their price objective on shares of EQB from C$113.00 to C$130.00 in a report on Tuesday. BMO Capital Markets upped their price objective on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Scotiabank upped their price objective on shares of EQB from C$109.00 to C$135.00 in a report on Monday. Finally, Raymond James reduced their price objective on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, EQB has an average rating of “Moderate Buy” and a consensus price target of C$114.25.

EQB Stock Performance

EQB stock opened at C$110.93 on Tuesday. The company has a 50-day simple moving average of C$106.37 and a 200-day simple moving average of C$97.43. The firm has a market capitalization of C$4.26 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.34 and a beta of 1.59. EQB has a one year low of C$74.00 and a one year high of C$111.95.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping the consensus estimate of C$2.93 by C$0.03. The business 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 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 issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.69%. This is an increase from EQB’s previous quarterly dividend of $0.45. 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.