Laurentian Bank of Canada (LB) to Release Earnings on Friday

Laurentian Bank of Canada (TSE:LB) is set to release its earnings data before the market opens on Friday, December 6th. Analysts expect Laurentian Bank of Canada to post earnings of C$0.88 per share for the quarter.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.85 by C$0.03. The business had revenue of C$256.50 million during the quarter, compared to analyst estimates 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%.

Laurentian Bank of Canada Stock Performance

Shares of LB stock opened at C$29.50 on Friday. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.63. The company’s 50 day moving average price is C$27.18 and its two-hundred day moving average price is C$26.63. The company has a market capitalization of C$1.30 billion, a P/E ratio of -47.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.37%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is -303.23%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. CIBC upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday. Desjardins upped their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Scotiabank increased their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a report on Monday. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Finally, Raymond James raised their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$27.10.

About Laurentian Bank of Canada

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.