Cormark Comments on National Bank of Canada’s Q2 2018 Earnings (NA)
National Bank of Canada (TSE:NA) – Stock analysts at Cormark lifted their Q2 2018 earnings estimates for National Bank of Canada in a report issued on Thursday. Cormark analyst M. Grauman now anticipates that the financial services provider will earn $1.42 per share for the quarter, up from their prior forecast of $1.40. Cormark also issued estimates for National Bank of Canada’s Q3 2018 earnings at $1.51 EPS, FY2018 earnings at $5.96 EPS, Q1 2019 earnings at $1.53 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.64 EPS and FY2019 earnings at $6.30 EPS.
National Bank of Canada (TSE:NA) last released its quarterly earnings results on Friday, December 1st. The financial services provider reported C$1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.38 by C$0.02. National Bank of Canada had a net margin of 30.45% and a return on equity of 18.84%. The firm had revenue of C$1.70 billion for the quarter, compared to analysts’ expectations of C$1.69 billion.
Shares of National Bank of Canada (TSE:NA) opened at C$63.29 on Friday. National Bank of Canada has a one year low of C$51.41 and a one year high of C$65.68. The stock has a market cap of $21,630.00, a price-to-earnings ratio of 11.51 and a beta of 0.87.
In other National Bank of Canada news, Director Louis Vachon sold 73,232 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of C$63.43, for a total value of C$4,645,105.76. Also, insider Dominique Fagnoule sold 14,200 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of C$64.20, for a total value of C$911,640.00. Insiders sold a total of 239,772 shares of company stock worth $15,288,811 in the last 90 days.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, March 26th will be issued a $0.60 dividend. The ex-dividend date is Friday, March 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 3.79%. National Bank of Canada’s payout ratio is currently 41.45%.
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About National Bank of Canada
National Bank of Canada (the Bank) is an integrated group, which provides financial services to consumers, small- and medium-sized enterprises (SMEs) and large corporations in its domestic market and also offers specialized services internationally. The Bank’s segments are Personal and Commercial, which includes the banking, financing and investing services offered to individuals and businesses, as well as insurance operations; Wealth Management, which consists of investment solutions, trust services, banking services, lending services and other wealth management solutions offered through internal and third-party distribution networks; Financial Markets, which includes banking services, investment banking services and financial solutions for institutional clients, and Other, which includes treasury operations, including the Bank’s asset and liability management, liquidity management and funding operations; certain non-recurring items, and the unallocated portion of corporate units.
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