Cormark Has Negative Outlook of EQB FY2024 Earnings

EQB Inc. (TSE:EQB - Free Report) - Investment analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for shares of EQB in a report issued on Monday, November 25th. Cormark analyst L. Persaud now expects that the company will post earnings of $11.47 per share for the year, down from their prior 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.

EQB has been the subject of a number of other research reports. TD Securities reduced their price objective 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. Raymond James decreased their price objective on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. BMO Capital Markets upped their price target on EQB from C$106.00 to C$119.00 in a research note on Monday, November 18th. CIBC upped their target price on EQB from C$113.00 to C$130.00 in a research report on Tuesday. Finally, Scotiabank upped their price objective on shares of EQB from C$109.00 to C$135.00 in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$114.25.

EQB Trading Up 0.7 %

EQB stock traded up C$0.76 on Tuesday, hitting C$111.33. 35,294 shares of the company's stock traded hands, compared to its average volume of 58,286. The stock has a market cap of C$4.27 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 0.34 and a beta of 1.59. EQB has a 1-year low of C$74.00 and a 1-year high of C$111.95. The stock has a fifty day moving average of C$106.13 and a 200-day moving average of C$97.25.

EQB (TSE:EQB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during 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 issued a $0.47 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.69%. This is a boost from EQB's previous quarterly dividend of $0.45. EQB's dividend payout ratio (DPR) 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.