What is Cormark’s Estimate for TSE:LB FY2024 Earnings?

Laurentian Bank of Canada (TSE:LB) – Stock analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Laurentian Bank of Canada in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the company will earn $3.53 per share for the year, down from their previous forecast of $3.56. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.84 per share. Cormark also issued estimates for Laurentian Bank of Canada’s FY2025 earnings at $3.79 EPS and FY2026 earnings at $4.07 EPS.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%.

Other equities research analysts have also issued reports about the stock. Desjardins lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Scotiabank boosted their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. Finally, Raymond James upped their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of “Hold” and a consensus target price of C$26.80.

Laurentian Bank of Canada Stock Up 1.7 %

Laurentian Bank of Canada stock opened at C$29.29 on Tuesday. The stock has a market cap of C$1.29 billion, a PE ratio of -47.24, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$29.49. The business’s 50-day moving average price is C$27.09 and its two-hundred day moving average price is C$26.58.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.42%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.