Desjardins Issues Optimistic Forecast for TSE:NA Earnings

National Bank of Canada (TSE:NA) – Analysts at Desjardins upped their FY2024 EPS estimates for National Bank of Canada in a research note issued on Friday, November 1st. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $10.40 per share for the year, up from their previous estimate of $10.35. Desjardins has a “Hold” rating and a $118.00 price target on the stock. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.84 per share. Desjardins also issued estimates for National Bank of Canada’s Q4 2024 earnings at $2.59 EPS and FY2026 earnings at $11.45 EPS.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%.

Other research analysts also recently issued reports about the company. BMO Capital Markets boosted their price objective on National Bank of Canada from C$115.00 to C$125.00 in a research note on Thursday, August 29th. Royal Bank of Canada upped their price target on shares of National Bank of Canada from C$113.00 to C$116.00 in a research report on Thursday, August 29th. Canaccord Genuity Group raised their price objective on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Cibc World Mkts cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, CIBC lowered National Bank of Canada from an “outperform” rating to a “neutral” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$122.64.

National Bank of Canada Stock Down 0.5 %

Shares of NA opened at C$132.14 on Monday. The business has a 50-day simple moving average of C$127.49 and a two-hundred day simple moving average of C$118.00. National Bank of Canada has a 52 week low of C$86.96 and a 52 week high of C$134.23. The stock has a market cap of C$44.98 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, September 30th were given a dividend of $1.10 per share. The ex-dividend date was Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.33%. National Bank of Canada’s payout ratio is 42.84%.

Insider Transactions at National Bank of Canada

In other news, Director Yvon Charest acquired 325 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% of the company’s stock.

National Bank of Canada Company Profile

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.