Cormark Has Bearish Estimate for EQB FY2024 Earnings

EQB Inc. (TSE:EQB) – Equities research analysts at Cormark dropped their FY2024 EPS estimates for EQB in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now expects that the company will post earnings per share of $11.47 for the year, down from their previous forecast of $11.53. Cormark currently 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.

A number of other research firms also recently issued reports on EQB. BMO Capital Markets boosted their target price on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. CIBC boosted their target price on shares of EQB from C$113.00 to C$130.00 in a report on Tuesday. Scotiabank boosted their target price on shares of EQB from C$109.00 to C$135.00 in a report on Monday. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. Finally, TD Securities lowered their target price on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$114.25.

EQB Price Performance

Shares of TSE EQB opened at C$110.93 on Tuesday. The company has a market cap of C$4.26 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 12 month low of C$74.00 and a 12 month high of C$111.95. The company has a 50-day simple moving average of C$106.37 and a 200-day simple moving average of C$97.43.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share 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 firm had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million.

EQB Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, September 13th. This is a positive change from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio 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.