Cormark Comments on Equitable Group Inc.’s Q1 2022 Earnings (TSE:EQB)

Equitable Group Inc. (TSE:EQBGet Rating) – Equities researchers at Cormark lowered their Q1 2022 earnings per share (EPS) estimates for shares of Equitable Group in a research report issued on Thursday, April 28th. Cormark analyst J. Fenwick now expects that the company will post earnings of $2.15 per share for the quarter, down from their prior forecast of $2.22. Cormark has a “Buy” rating and a $88.00 price target on the stock. Cormark also issued estimates for Equitable Group’s Q2 2022 earnings at $2.23 EPS, Q3 2022 earnings at $2.29 EPS, Q4 2022 earnings at $2.55 EPS, Q3 2023 earnings at $2.61 EPS and Q4 2023 earnings at $2.69 EPS.

EQB has been the topic of several other research reports. National Bankshares decreased their target price on Equitable Group from C$95.00 to C$85.00 in a research report on Tuesday, April 26th. Royal Bank of Canada boosted their price target on Equitable Group from C$88.00 to C$96.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Scotiabank cut their price target on Equitable Group from C$103.00 to C$94.00 in a research note on Wednesday, April 13th. National Bank Financial boosted their price target on Equitable Group to C$13.00 and gave the company an “outperform” rating in a research note on Friday, January 14th. Finally, TD Securities boosted their price target on Equitable Group from C$95.00 to C$99.00 and gave the company a “buy” rating in a research note on Thursday, February 17th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$91.25.

Equitable Group stock opened at C$57.65 on Monday. Equitable Group has a 12 month low of C$57.40 and a 12 month high of C$84.78. The stock’s 50 day moving average is C$69.96 and its 200-day moving average is C$75.15. The company has a market capitalization of C$1.96 billion and a price-to-earnings ratio of 6.90.

Equitable Group (TSE:EQBGet Rating) last posted its earnings results on Monday, February 7th. The company reported C$2.32 EPS for the quarter, beating the consensus estimate of C$2.10 by C$0.22. The firm had revenue of C$171.86 million during the quarter, compared to analyst estimates of C$167.10 million.

In other Equitable Group news, Director Ronald Walter Tratch sold 6,310 shares of the company’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of C$77.00, for a total transaction of C$485,870.00. Following the completion of the sale, the director now directly owns 3,023 shares in the company, valued at C$232,771. Also, Senior Officer Andrew Moor sold 1,300 shares of the company’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of C$77.51, for a total value of C$100,763.00. Following the sale, the insider now owns 78,329 shares of the company’s stock, valued at C$6,071,280.79. Insiders have sold 14,890 shares of company stock valued at $1,152,361 over the last 90 days.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Equitable Group’s previous quarterly dividend of $0.19. This represents a $1.12 annualized dividend and a yield of 1.94%. Equitable Group’s dividend payout ratio is presently 8.85%.

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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Earnings History and Estimates for Equitable Group (TSE:EQB)

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