Cormark Expects Lower Earnings for Laurentian Bank of Canada

Laurentian Bank of Canada (TSE:LB - Free Report) - Equities researchers at Cormark decreased their FY2024 EPS estimates for Laurentian Bank of Canada in a research report issued to clients and investors on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $3.53 for the year, down from their prior estimate 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.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. The firm had revenue of C$256.50 million for the quarter, compared to analysts' expectations of C$257.90 million.

Several other research firms have also recently weighed in on LB. BMO Capital Markets raised their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Cibc World Mkts upgraded Laurentian Bank of Canada to a "hold" rating in a report on Wednesday, August 21st. Raymond James boosted their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Scotiabank lifted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday. Finally, 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. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of "Hold" and a consensus target price of C$27.10.

Laurentian Bank of Canada Stock Performance

LB remained flat at C$29.29 on Tuesday. 270,828 shares of the company were exchanged, compared to its average volume of 233,440. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$29.49. The stock has a market capitalization of C$1.29 billion, a P/E ratio of -47.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The business has a 50-day moving average of C$27.09 and a 200 day moving average of C$26.58.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada's payout ratio is -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.