EQB (TSE:EQB) Price Target Cut to C$150.00 by Analysts at TD

EQB (TSE:EQB) had its price target lowered by stock analysts at TD from C$154.00 to C$150.00 in a report released on Friday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. TD‘s price target indicates a potential upside of 17.65% from the stock’s previous close.

Several other research firms have also recently issued reports on EQB. Jefferies Financial Group lowered their target price on shares of EQB from C$128.00 to C$127.00 in a research note on Thursday, September 3rd. Desjardins reduced their price target on shares of EQB from C$150.00 to C$145.00 and set a “buy” rating for the company in a research report on Wednesday. Canadian Imperial Bank of Commerce decreased their price target on shares of EQB from C$165.00 to C$154.00 and set an “outperformer” rating on the stock in a report on Friday, August 28th. Scotiabank lowered their price objective on EQB from C$141.00 to C$135.00 in a research report on Monday, August 31st. Finally, Royal Bank Of Canada lifted their price objective on EQB from C$131.00 to C$146.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, EQB currently has a consensus rating of “Moderate Buy” and an average price target of C$138.60.

EQB Price Performance

EQB stock traded down C$2.91 during mid-day trading on Friday, reaching C$127.50. 37,635 shares of the company traded hands, compared to its average volume of 120,509. The company has a market capitalization of C$5.43 billion, a P/E ratio of -455.36, a P/E/G ratio of 0.34 and a beta of 0.71. EQB has a 52-week low of C$83.93 and a 52-week high of C$150.32. The company has a fifty day moving average price of C$123.96 and a 200-day moving average price of C$123.13.

EQB (TSE:EQB) last announced its quarterly earnings results on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. The firm had revenue of C$393.04 million for the quarter. EQB had a negative return on equity of 0.07% and a negative net margin of 0.08%. As a group, analysts forecast that EQB will post 12.60 EPS for the current year.

Insider Activity at EQB

In related news, insider Loblaw Companies Limited acquired 16,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of C$126.95 per share, with a total value of C$2,031,200.00. Following the acquisition, the insider owned 1,660,100 shares of the company’s stock, valued at approximately C$210,749,695. The trade was a 0.97% increase in their position. Over the last 90 days, insiders have acquired 184,200 shares of company stock valued at $23,628,874. 29.02% of the stock is owned by corporate insiders.

EQB Company Profile

EQB Inc. (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.