Cormark Expects Lower Earnings for Laurentian Bank of Canada

Laurentian Bank of Canada (TSE:LB) – Research analysts at Cormark cut their FY2024 earnings estimates for shares of Laurentian Bank of Canada in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now expects that the company will post earnings per share of $3.53 for the year, down from their prior estimate 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 announced its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%.

Other equities analysts have also issued reports about the stock. CIBC raised their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Desjardins lifted their price objective 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. Scotiabank lifted their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$29.39 on Tuesday. The firm has a market cap of C$1.29 billion, a PE ratio of -47.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The firm’s 50 day simple moving average is C$27.13 and its 200-day simple moving average is C$26.61. Laurentian Bank of Canada has a one year low of C$24.45 and a one year high of C$29.55.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, November 1st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.40%. Laurentian Bank of Canada’s dividend payout ratio is presently -303.23%.

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.