Equitable Group Inc. (EQB) to Post Q3 2018 Earnings of $2.54 Per Share, Cormark Forecasts
Equitable Group Inc. (TSE:EQB) – Research analysts at Cormark reduced their Q3 2018 earnings per share estimates for Equitable Group in a report issued on Monday, August 13th. Cormark analyst J. Fenwick now expects that the company will earn $2.54 per share for the quarter, down from their prior forecast of $2.58. Cormark also issued estimates for Equitable Group’s Q4 2018 earnings at $2.55 EPS, Q1 2019 earnings at $2.61 EPS, Q2 2019 earnings at $2.54 EPS, Q3 2019 earnings at $2.74 EPS and FY2019 earnings at $10.64 EPS.
A number of other analysts have also commented on EQB. National Bank Financial decreased their price objective on Equitable Group from C$67.00 to C$64.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 1st. Royal Bank of Canada increased their price objective on Equitable Group from C$66.00 to C$74.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. TD Securities increased their price objective on Equitable Group from C$75.00 to C$77.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, BMO Capital Markets increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$74.13.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Friday, September 14th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, September 13th.
In other Equitable Group news, Director Daniel Lee Dickinson sold 5,200 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of C$64.22, for a total value of C$333,944.00. Also, insider Stephen Smith purchased 6,500 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was acquired at an average cost of C$55.19 per share, for a total transaction of C$358,735.00.
About Equitable Group
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.
Read More: Earnings Per Share
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