Equitable Group (TSE:EQB) PT Lowered to C$88.00 at Cormark

Equitable Group (TSE:EQBGet Rating) had its price objective reduced by Cormark from C$105.00 to C$88.00 in a report published on Thursday morning, MarketBeat reports. They currently have a buy rating on the stock. Cormark also issued estimates for Equitable Group’s FY2022 earnings at $9.22 EPS, Q1 2023 earnings at $2.64 EPS and Q2 2023 earnings at $2.59 EPS.

A number of other research firms also recently commented on EQB. Royal Bank of Canada boosted their price target on shares of Equitable Group from C$88.00 to C$96.00 and gave the stock an outperform rating in a research report on Wednesday, February 16th. Scotiabank dropped their price target on shares of Equitable Group from C$103.00 to C$94.00 in a research report on Wednesday, April 13th. Raymond James dropped their price target on shares of Equitable Group from C$88.50 to C$85.00 and set an outperform rating on the stock in a research report on Monday, April 11th. National Bank Financial boosted their price target on shares of Equitable Group to C$13.00 and gave the stock an outperform rating in a research report on Friday, January 14th. Finally, TD Securities boosted their price target on shares of Equitable Group from C$95.00 to C$99.00 and gave the stock a buy rating in a research report on Thursday, February 17th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$91.25.

TSE EQB opened at C$59.22 on Thursday. The company has a 50-day simple moving average of C$70.34 and a 200-day simple moving average of C$76.86. The firm has a market capitalization of C$2.02 billion and a PE ratio of 7.08. Equitable Group has a one year low of C$57.67 and a one year high of C$84.78.

Equitable Group (TSE:EQBGet Rating) last posted its earnings results on Monday, February 7th. The company reported C$2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.10 by C$0.22. The firm had revenue of C$171.86 million for the quarter, compared to analyst estimates of C$167.10 million. Equities research analysts expect that Equitable Group will post 10.1900006 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Equitable Group’s previous quarterly dividend of $0.19. Equitable Group’s payout ratio is currently 8.85%.

In other news, Senior Officer Joao Da Costa Simoes sold 3,180 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of C$77.80, for a total transaction of C$247,404.00. Following the sale, the insider now owns 5,716 shares in the company, valued at C$444,704.80. Also, Director Ronald Walter Tratch sold 6,310 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of C$77.00, for a total transaction of C$485,870.00. Following the transaction, the director now directly owns 3,023 shares in the company, valued at C$232,771. Insiders have sold 14,890 shares of company stock worth $1,152,361 in the last 90 days.

Equitable Group Company Profile (Get Rating)

Equitable Group 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, tax-free savings accounts, and institutional deposit notes, as well as specialized financing solutions.

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