Cormark Research Analysts Lower Earnings Estimates for EQB

EQB Inc. (TSE:EQB) – Equities researchers at Cormark reduced their FY2024 EPS estimates for shares of EQB in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $11.47 for the year, down from their prior forecast of $11.53. Cormark currently has a “Buy” rating and a $111.00 price objective 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.

A number of other brokerages also recently issued reports on EQB. TD Securities lowered their price target on 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 raised their target price on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Raymond James cut their price target on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. BMO Capital Markets raised their price objective on shares of EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. Finally, Scotiabank upped their target price on EQB from C$109.00 to C$135.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$112.13.

EQB Stock Performance

Shares of EQB stock opened at C$110.57 on Tuesday. The stock has a market cap of C$4.24 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The stock has a 50 day moving average price of C$105.90 and a 200-day moving average price of C$97.06. EQB has a one year low of C$74.00 and a one year high of C$111.59.

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. EQB had a return on equity of 14.70% and a net margin of 39.67%. The company had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million.

EQB Increases Dividend

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