Raymond James Has Bearish Outlook for EQB FY2024 Earnings

EQB Inc. (TSE:EQB) – Raymond James cut their FY2024 EPS estimates for EQB in a research report issued 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 prior estimate 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 announced its quarterly earnings results on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analyst estimates of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%.

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

EQB Price Performance

Shares of EQB stock opened at C$110.35 on Friday. The company has a market capitalization of C$4.24 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59. The business has a 50-day moving average of C$105.90 and a two-hundred day moving average of C$96.92. EQB has a 1 year low of C$73.12 and a 1 year high of C$111.53.

EQB Increases Dividend

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

About EQB

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.