BMO Capital Markets Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price target upped by research analysts at BMO Capital Markets from C$106.00 to C$119.00 in a research note issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 9.89% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. CIBC boosted their price target on shares of EQB from C$105.00 to C$113.00 in a research report on Friday, September 6th. Raymond James reduced their target price on shares of EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. TD Securities dropped their price target on shares of EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Cormark reduced their price target on shares of EQB from C$121.00 to C$111.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Scotiabank decreased their price objective on EQB from C$113.00 to C$109.00 in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$108.00.

EQB Stock Down 0.3 %

EQB stock opened at C$108.29 on Monday. The company has a fifty day simple moving average of C$105.25 and a 200-day simple moving average of C$96.59. The firm has a market capitalization of C$4.16 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.34 and a beta of 1.59. EQB has a 52-week low of C$71.90 and a 52-week high of C$109.80.

EQB (TSE:EQB) last announced its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.93 by C$0.03. The company had revenue of C$327.24 million during the quarter, compared to analysts’ expectations of C$325.00 million. EQB had a net margin of 39.67% and a return on equity of 14.70%. On average, research analysts anticipate that EQB will post 12.5988235 EPS for the current fiscal year.

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.