Raymond James Has Pessimistic Outlook of EQB FY2024 Earnings

EQB Inc. (TSE:EQB) – Analysts at Raymond James dropped their FY2024 earnings per share (EPS) estimates for shares of EQB in a research note issued to investors on Tuesday, November 19th. Raymond James analyst S. Boland now forecasts that the company will post earnings per share of $11.42 for the year, down from their previous 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 (TSE:EQB) last issued its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS 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 company had revenue of C$327.24 million for the quarter, compared to the consensus estimate of C$325.00 million.

A number of other research analysts have also recently issued reports on EQB. Cormark cut their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. TD Securities cut 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. CIBC increased their target price on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. BMO Capital Markets lifted their price target on EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Finally, Scotiabank reduced their price target on shares of EQB from C$113.00 to C$109.00 in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, EQB presently has an average rating of “Moderate Buy” and an average price target of C$108.88.

EQB Stock Up 0.9 %

TSE:EQB opened at C$110.35 on Friday. The firm has a market cap of C$4.24 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. EQB has a 12 month low of C$73.12 and a 12 month high of C$111.53. The company’s 50-day moving average price is C$105.90 and its two-hundred day moving average price is C$96.92.

EQB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 30th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.70%. This is a positive change from EQB’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, September 13th. EQB’s dividend payout ratio (DPR) is presently 19.75%.

EQB Company Profile

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.