Brokers Offer Predictions for Equitable Group Inc.’s FY2019 Earnings (EQB)
Equitable Group Inc. (TSE:EQB) – Stock analysts at National Bank Financial lifted their FY2019 earnings per share (EPS) estimates for shares of Equitable Group in a research report issued to clients and investors on Monday, December 3rd. National Bank Financial analyst J. Gloyn now expects that the company will post earnings of $10.79 per share for the year, up from their previous forecast of $10.70. National Bank Financial has a “Sector Perform” rating and a $77.00 price objective on the stock. National Bank Financial also issued estimates for Equitable Group’s FY2020 earnings at $11.75 EPS.
Several other research firms have also recently weighed in on EQB. TD Securities increased their price target on Equitable Group from C$78.00 to C$80.00 and gave the company a “buy” rating in a research note on Tuesday. CIBC increased their price target on Equitable Group from C$86.00 to C$90.00 in a research note on Tuesday. Cormark increased their price target on Equitable Group from C$76.00 to C$85.00 in a research note on Tuesday. Royal Bank of Canada increased their price target on Equitable Group from C$69.00 to C$77.00 and gave the company a “sector perform” rating in a research note on Friday, November 9th. Finally, BMO Capital Markets increased their price target on Equitable Group from C$65.00 to C$80.00 and gave the company an “outperform” rating in a research note on Monday, August 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Equitable Group presently has a consensus rating of “Hold” and an average target price of C$79.43.
In other news, Director Ronald Walter Tratch sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of C$71.00, for a total value of C$177,500.00. Also, insider Timothy James Wilson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of C$70.85, for a total value of C$212,550.00.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.28 per share. This is an increase from Equitable Group’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, December 13th. Equitable Group’s dividend payout ratio (DPR) is presently 10.84%.
Equitable Group Company Profile
Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. Its deposit products include guaranteed investment certificates (GICs), high interest savings accounts (HISAs), and deposit notes. The company also provides single family lending services, such as loans secured by owner-occupied and investment properties comprising detached and semi-detached houses, townhouses, and condos through a range of products, such as mortgages, home equity lines of credit, and equity release mortgages; and commercial lending products that include mortgages on commercial properties comprising mixed-use, multi-unit residential, shopping plaza, professional office, and industrial properties.
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