Scotiabank Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its target price raised by investment analysts at Scotiabank from C$102.00 to C$105.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 0.46% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group reduced their price target on EQB from C$107.00 to C$93.00 in a research report on Tuesday, November 25th. Raymond James Financial cut their price objective on EQB from C$93.00 to C$91.00 in a research note on Friday, December 5th. Veritas raised EQB to a “hold” rating in a research report on Monday, December 1st. TD Securities lifted their price target on shares of EQB from C$96.00 to C$103.00 and gave the company a “hold” rating in a research report on Friday, December 5th. Finally, Desjardins boosted their price objective on shares of EQB from C$107.00 to C$110.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$103.00.

EQB Stock Up 0.7%

TSE EQB opened at C$104.52 on Friday. The stock has a market capitalization of C$3.90 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.34 and a beta of 0.94. EQB has a 12-month low of C$83.93 and a 12-month high of C$114.22. The company has a 50 day moving average price of C$94.75 and a two-hundred day moving average price of C$96.00.

EQB (TSE:EQB) last released its quarterly earnings results on Wednesday, December 3rd. The company reported C$6.56 earnings per share for the quarter. EQB had a net margin of 13.04% and a return on equity of 8.52%. As a group, equities analysts anticipate that EQB will post 12.5988235 EPS for the current year.

EQB Company Profile

EQB Inc formerly Equitable Group Inc trades on the Toronto Stock Exchange TSX: EQB and EQB.PR.C and serves over 360000 Canadians through its wholly owned subsidiary Equitable Bank Canadas Challenger Bank. Equitable Bank has grown to become the countrys eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich peoples lives. At Equitable Bank we are as invested in our employees as we are in our business. Thats why we are consistently recognized as one of Canadas Top Employers a rating that comes from our 1300+ employees.