FY2023 EPS Estimates for EQB Inc. (TSE:EQB) Cut by Analyst

EQB Inc. (TSE:EQB) – Investment analysts at Raymond James dropped their FY2023 earnings estimates for shares of EQB in a research note issued to investors on Wednesday, November 15th. Raymond James analyst S. Boland now anticipates that the company will post earnings per share of $9.12 for the year, down from their previous forecast of $11.14. Raymond James currently has a “Outperform” rating and a $97.00 price target on the stock. The consensus estimate for EQB’s current full-year earnings is $11.83 per share. Raymond James also issued estimates for EQB’s Q4 2023 earnings at $3.52 EPS, Q1 2024 earnings at $2.87 EPS, Q2 2024 earnings at $2.94 EPS, Q3 2024 earnings at $3.02 EPS, Q4 2024 earnings at $3.13 EPS and FY2024 earnings at $11.96 EPS.

Other equities analysts have also issued reports about the stock. National Bankshares increased their price objective on shares of EQB from C$88.00 to C$90.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. BMO Capital Markets raised their price target on shares of EQB from C$93.00 to C$97.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Royal Bank of Canada raised their price target on shares of EQB from C$97.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 4th. Finally, TD Securities raised their price target on shares of EQB from C$88.00 to C$90.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$91.43.

EQB Stock Up 0.1 %

Shares of EQB stock opened at C$74.05 on Monday. The firm has a market capitalization of C$2.79 billion, a P/E ratio of 7.95, a PEG ratio of 0.34 and a beta of 1.69. The company has a 50 day moving average price of C$73.03 and a 200 day moving average price of C$72.36. EQB has a 52 week low of C$53.19 and a 52 week high of C$84.79.

EQB Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.05%. This is a positive change from EQB’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, September 14th. EQB’s payout ratio is 16.33%.

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.