Cormark Has Pessimistic Outlook of TSE:NA FY2024 Earnings

National Bank of Canada (TSE:NA - Free Report) - Stock analysts at Cormark dropped their FY2024 earnings estimates for shares of National Bank of Canada in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will post earnings of $10.35 per share for the year, down from their prior forecast of $10.37. The consensus estimate for National Bank of Canada's current full-year earnings is $10.84 per share. Cormark also issued estimates for National Bank of Canada's Q4 2024 earnings at $2.55 EPS.

National Bank of Canada (TSE:NA - Get Free Report) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, topping the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The business had revenue of C$2.98 billion for the quarter, compared to the consensus estimate of C$2.95 billion.

Several other analysts have also recently commented on the stock. Desjardins raised their price target on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the stock a "hold" rating in a report on Tuesday, August 6th. BMO Capital Markets lifted their target price on shares of National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday, November 18th. Jefferies Financial Group boosted their price target on shares of National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. Canaccord Genuity Group lifted their price objective on National Bank of Canada from C$123.00 to C$135.00 in a research report on Tuesday, November 19th. Finally, Cibc World Mkts lowered National Bank of Canada from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, National Bank of Canada presently has an average rating of "Hold" and an average price target of C$132.40.

National Bank of Canada Stock Up 0.7 %

Shares of NA traded up C$1.00 during mid-day trading on Wednesday, reaching C$138.43. The company's stock had a trading volume of 1,123,795 shares, compared to its average volume of 1,729,183. The company has a market cap of C$47.12 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The business has a fifty day moving average of C$131.32 and a 200 day moving average of C$120.68. National Bank of Canada has a 1 year low of C$87.92 and a 1 year high of C$138.79.

Insider Buying and Selling at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest acquired 285 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of C$133.71 per share, for a total transaction of C$38,107.35. Insiders own 0.21% of the company's stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.