What is Cormark’s Forecast for EQB FY2024 Earnings?

EQB Inc. (TSE:EQB) – Equities researchers at Cormark lowered their FY2024 earnings per share estimates for EQB in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the company will earn $11.47 per share for the year, down from their prior estimate of $11.53. Cormark has a “Buy” rating and a $111.00 price target 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 research analysts have also commented on EQB. 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 note on Friday, August 30th. Scotiabank upped their price target on EQB from C$109.00 to C$135.00 in a research report on Monday. BMO Capital Markets lifted their price objective on EQB from C$106.00 to C$119.00 in a research report on Monday, November 18th. Raymond James reduced their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Finally, CIBC lifted their price target on shares of EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$112.13.

EQB Trading Up 0.2 %

EQB opened at C$110.57 on Tuesday. The firm’s 50 day simple moving average is C$105.90 and its two-hundred day simple moving average is C$97.06. The company has a market capitalization of C$4.24 billion, a PE ratio of 11.61, a PEG 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$111.59.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping the consensus estimate of C$2.93 by C$0.03. The firm had revenue of C$327.24 million for the quarter, compared to analysts’ expectations 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were issued a dividend of $0.47 per share. 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 yield of 1.70%. The ex-dividend date of this dividend was Friday, September 13th. EQB’s dividend payout ratio (DPR) is 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.