Raymond James Issues Pessimistic Estimate for EQB Earnings

EQB Inc. (TSE:EQB) – Research analysts at Raymond James lowered their FY2024 EPS estimates for shares of EQB in a report released on Tuesday, November 19th. Raymond James analyst S. Boland now expects that the company will post earnings per share of $11.42 for the year, down from their prior forecast of $11.49. The consensus estimate for EQB’s current full-year earnings is $12.60 per share. Raymond James also issued estimates for EQB’s Q4 2024 earnings at $2.94 EPS and Q4 2025 earnings at $3.24 EPS.

EQB has been the topic of a number of other reports. BMO Capital Markets raised their target price on shares of EQB from C$106.00 to C$119.00 in a research report on Monday. Cormark decreased their price target on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. CIBC raised their target price on shares of EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Scotiabank reduced their price objective on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. Finally, TD Securities cut their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$108.00.

EQB Stock Up 0.9 %

EQB opened at C$109.40 on Friday. EQB has a 52 week low of C$71.90 and a 52 week high of C$109.80. The business’s 50 day moving average is C$105.43 and its two-hundred day moving average is C$96.67. The firm has a market cap of C$4.20 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

EQB (TSE:EQB) last posted its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The business had revenue of C$327.24 million for the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.72%. This is an increase from EQB’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, September 13th. EQB’s payout ratio 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.