Cormark Comments on EQB Inc.’s FY2024 Earnings (TSE:EQB)

EQB Inc. (TSE:EQBFree Report) – Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of EQB in a research note issued to investors on Thursday, May 30th. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $11.79 for the year, up from their previous forecast of $11.64. The consensus estimate for EQB’s current full-year earnings is $11.58 per share. Cormark also issued estimates for EQB’s FY2025 earnings at $12.89 EPS.

Several other brokerages have also recently commented on EQB. National Bank Financial cut EQB from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, February 28th. BMO Capital Markets raised their target price on EQB from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Scotiabank raised their target price on EQB from C$111.00 to C$113.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. CIBC lifted their price objective on EQB from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Veritas Investment Research reissued a “reduce” rating on shares of EQB in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$104.44.

Check Out Our Latest Stock Report on EQB

EQB Stock Down 2.4 %

Shares of EQB stock opened at C$87.15 on Monday. The stock has a market cap of C$3.33 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.34 and a beta of 1.63. The business has a fifty day simple moving average of C$85.47 and a 200-day simple moving average of C$85.83. EQB has a 12 month low of C$65.40 and a 12 month high of C$97.64.

EQB (TSE:EQBGet Free Report) last released its quarterly earnings data on Wednesday, March 27th. The company reported C$2.70 earnings per share for the quarter. The business had revenue of C$298.77 million during the quarter. EQB had a return on equity of 14.70% and a net margin of 39.67%.

EQB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from EQB’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.07%. EQB’s payout ratio is presently 18.05%.

EQB Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for EQB (TSE:EQB)

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