CIBC Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price objective increased by research analysts at CIBC from C$113.00 to C$130.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 16.93% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James lowered their target price on shares of EQB from C$110.00 to C$106.00 in a report on Wednesday, August 21st. BMO Capital Markets lifted their target price on shares of EQB from C$106.00 to C$119.00 in a report on Monday, November 18th. Cormark lowered their target price on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Scotiabank lifted their target price on shares of EQB from C$109.00 to C$135.00 in a report on Monday. Finally, TD Securities reduced their price objective on shares of 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 seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$114.25.

EQB Stock Performance

EQB stock traded up C$0.61 during midday trading on Tuesday, hitting C$111.18. 13,904 shares of the company’s stock were exchanged, compared to its average volume of 58,191. EQB has a 12-month low of C$74.00 and a 12-month high of C$111.59. The stock has a market cap of C$4.27 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The firm’s 50 day simple moving average is C$106.13 and its 200 day simple moving average is C$97.25.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, topping 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. On average, equities research analysts forecast that EQB will post 12.5988235 EPS for the current fiscal year.

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.