Chesswood Group Limited Forecasted to Post FY2023 Earnings of $0.08 Per Share (TSE:CHW)

Chesswood Group Limited (TSE:CHW) – Analysts at Cormark reduced their FY2023 earnings per share (EPS) estimates for shares of Chesswood Group in a research report issued to clients and investors on Wednesday, November 8th. Cormark analyst J. Fenwick now anticipates that the company will earn $0.08 per share for the year, down from their prior forecast of $0.15. The consensus estimate for Chesswood Group’s current full-year earnings is $0.87 per share. Cormark also issued estimates for Chesswood Group’s Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $0.68 EPS.

Other equities research analysts have also recently issued research reports about the company. Raymond James dropped their price target on Chesswood Group from C$8.00 to C$6.50 in a research note on Wednesday. Keefe, Bruyette & Woods cut Chesswood Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$10.00 to C$8.00 in a research note on Wednesday, September 20th. Finally, Royal Bank of Canada dropped their price target on Chesswood Group from C$8.00 to C$6.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 19th.

Chesswood Group Trading Up 1.4 %

Shares of Chesswood Group stock opened at C$6.32 on Thursday. Chesswood Group has a 12-month low of C$5.40 and a 12-month high of C$12.05. The business’s 50 day moving average is C$6.62 and its 200-day moving average is C$7.47. The company has a quick ratio of 38.05, a current ratio of 58.32 and a debt-to-equity ratio of 958.64. The stock has a market cap of C$113.63 million, a P/E ratio of 5.85 and a beta of 2.09.

Chesswood Group (TSE:CHW) last announced its quarterly earnings data on Tuesday, August 8th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.03) by C$0.13. Chesswood Group had a return on equity of 10.15% and a net margin of 13.50%. The company had revenue of C$80.46 million for the quarter, compared to analysts’ expectations of C$81.79 million.

Chesswood Group Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.01 per share. This represents a $0.12 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, October 30th. Chesswood Group’s payout ratio is 11.11%.

Insiders Place Their Bets

In other Chesswood Group news, Senior Officer Ryan Marr sold 10,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of C$6.05, for a total transaction of C$60,500.00. In other news, Senior Officer Ryan Marr sold 10,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of C$6.05, for a total transaction of C$60,500.00. Also, insider CB Leaseco Holdings Inc. bought 5,100 shares of Chesswood Group stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of C$6.97 per share, for a total transaction of C$35,567.91. Insiders have bought 110,208 shares of company stock worth $752,025 in the last 90 days. Company insiders own 38.33% of the company’s stock.

About Chesswood Group

Chesswood Group Limited, a financial services company, operates primarily in the specialty finance industry. The company offers micro and small-ticket commercial equipment financing to small and medium-sized businesses through a network equipment finance broker firms and equipment vendors in the United States; and commercial equipment financing to small and medium businesses through a network of equipment finance broker firms in Canada.