Raymond James Comments on EQB’s FY2024 Earnings (TSE:EQB)

EQB Inc. (TSE:EQB) – Equities researchers at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of EQB in a report released on Tuesday, November 19th. Raymond James analyst S. Boland now anticipates that the company will post earnings of $11.42 per share 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 released its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%.

EQB has been the subject of a number of other reports. Cormark lowered their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a report on Thursday, August 29th. BMO Capital Markets lifted their target price on shares of EQB from C$106.00 to C$119.00 in a research note on Monday. Scotiabank cut their price target on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. CIBC raised their price objective on EQB from C$105.00 to C$113.00 in a report on Friday, September 6th. Finally, TD Securities dropped their target price on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$108.00.

EQB Trading Up 0.9 %

Shares of EQB stock opened at C$109.40 on Friday. The company has a market capitalization of C$4.20 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.34 and a beta of 1.59. The firm has a 50-day moving average price of C$105.43 and a 200 day moving average price of C$96.67. EQB has a twelve month low of C$71.90 and a twelve month high of C$109.80.

EQB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, September 13th. This is an increase from EQB’s previous quarterly dividend of $0.45. EQB’s payout ratio is 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.