Brokers Issue Forecasts for EQB’s FY2024 Earnings (TSE:EQB)

EQB Inc. (TSE:EQB) – Equities researchers at National Bank Financial lowered their FY2024 EPS estimates for EQB in a research note issued to investors on Tuesday, November 19th. National Bank Financial analyst G. Dechaine now forecasts that the company will post earnings per share of $11.35 for the year, down from their previous estimate of $11.51. The consensus estimate for EQB’s current full-year earnings is $12.60 per share.

EQB (TSE:EQB) last posted its quarterly earnings data 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 firm had revenue of C$327.24 million for the quarter, compared to analyst estimates of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%.

Several other equities analysts have also commented on EQB. BMO Capital Markets raised their target price on shares of EQB from C$106.00 to C$119.00 in a report on Monday. Scotiabank decreased their price target on EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. TD Securities dropped 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 reduced their price objective on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. Finally, CIBC boosted their target price on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, EQB presently has a consensus rating of “Moderate Buy” and a consensus price target of C$108.00.

EQB Stock Performance

Shares of TSE EQB opened at C$109.40 on Friday. The stock has a market capitalization of C$4.20 billion, a P/E ratio of 11.49, a PEG ratio of 0.34 and a beta of 1.59. The stock’s fifty day moving average is C$105.43 and its 200 day moving average is C$96.67. EQB has a 52 week low of C$71.90 and a 52 week high of C$109.80.

EQB Increases Dividend

The firm also recently announced 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 represents a $1.88 dividend on an annualized basis and a yield of 1.72%. This is a positive change 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.