Q3 2023 Earnings Estimate for National Bank of Canada Issued By Desjardins (TSE:NA)

National Bank of Canada (TSE:NA – Get Rating) – Stock analysts at Desjardins cut their Q3 2023 earnings per share estimates for National Bank of Canada in a report released on Wednesday, March 1st. Desjardins analyst D. Young now forecasts that the financial services provider will earn $2.42 per share for the quarter, down from their previous estimate of $2.44. The consensus estimate for National Bank of Canada’s current full-year earnings is $9.56 per share. Desjardins also issued estimates for National Bank of Canada’s Q4 2023 earnings at $2.54 EPS.

National Bank of Canada (TSE:NA – Get Rating) last posted its earnings results on Wednesday, November 30th. The financial services provider reported C$2.08 EPS for the quarter, missing the consensus estimate of C$2.22 by C($0.14). The company had revenue of C$2.33 billion for the quarter, compared to the consensus estimate of C$2.53 billion. National Bank of Canada had a net margin of 35.59% and a return on equity of 16.74%.

Several other equities analysts also recently issued reports on NA. Scotiabank reduced their price objective on National Bank of Canada from C$115.00 to C$111.00 in a research report on Friday, February 17th. Credit Suisse Group reduced their price objective on National Bank of Canada to C$109.00 in a research report on Thursday, December 1st. Cormark boosted their price objective on National Bank of Canada from C$112.00 to C$113.00 in a research report on Thursday. Veritas Investment Research reiterated a “buy” rating on shares of National Bank of Canada in a research report on Monday, February 27th. Finally, CSFB upped their target price on National Bank of Canada from C$110.00 to C$113.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, National Bank of Canada has an average rating of “Moderate Buy” and an average price target of C$106.95.

National Bank of Canada Trading Up 0.7 %

Shares of TSE NA opened at C$102.74 on Friday. The stock has a 50 day simple moving average of C$98.07 and a 200-day simple moving average of C$93.87. The company has a market cap of C$34.65 billion, a PE ratio of 10.69, a P/E/G ratio of 1.02 and a beta of 1.11. National Bank of Canada has a 12-month low of C$82.16 and a 12-month high of C$104.83.

Insider Activity

In other National Bank of Canada news, Senior Officer Eric Bujold sold 10,000 shares of the business’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of C$94.95, for a total transaction of C$949,500.00. Following the sale, the insider now directly owns 22 shares of the company’s stock, valued at approximately C$2,088.90. In other National Bank of Canada news, Director Denis Girouard sold 19,864 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of C$95.13, for a total transaction of C$1,889,640.47. Following the sale, the director now directly owns 30,000 shares of the company’s stock, valued at approximately C$2,853,867. Also, Senior Officer Eric Bujold sold 10,000 shares of the business’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of C$94.95, for a total transaction of C$949,500.00. Following the sale, the insider now directly owns 22 shares in the company, valued at C$2,088.90. In the last 90 days, insiders sold 70,070 shares of company stock worth $6,647,257. Insiders own 0.28% of the company’s stock.

National Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, March 27th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, March 24th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 3.78%. National Bank of Canada’s dividend payout ratio (DPR) is presently 40.37%.

About National Bank of Canada

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National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International.