Equitable Group Inc. (EQB) to Post FY2020 Earnings of $10.50 Per Share, National Bank Financial Forecasts

Equitable Group Inc. (TSE:EQB) – Equities researchers at National Bank Financial issued their FY2020 EPS estimates for shares of Equitable Group in a research note issued on Monday, October 29th. National Bank Financial analyst J. Gloyn forecasts that the company will post earnings per share of $10.50 for the year. National Bank Financial has a “Sector Perform” rating and a $68.00 price target on the stock.

Equitable Group (TSE:EQB) last announced its earnings results on Thursday, August 9th. The company reported C$2.45 earnings per share for the quarter, beating the consensus estimate of C$2.24 by C$0.21. The company had revenue of C$214.96 million during the quarter, compared to the consensus estimate of C$84.60 million. Equitable Group had a return on equity of 15.06% and a net margin of 45.86%.

Several other analysts also recently weighed in on EQB. TD Securities raised their target price 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. BMO Capital Markets raised their target price 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. Finally, Royal Bank of Canada increased their price target on shares of Equitable Group from C$66.00 to C$74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of C$73.88.

Shares of Equitable Group stock traded up C$0.33 during trading hours on Wednesday, hitting C$58.23. 2,146 shares of the company’s stock traded hands, compared to its average volume of 27,905. Equitable Group has a twelve month low of C$52.01 and a twelve month high of C$72.98.

In other Equitable Group news, insider Timothy James Wilson sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of C$63.50, for a total value of C$127,000.00. Also, 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 transaction of C$333,944.00. Insiders have sold 24,659 shares of company stock worth $1,631,358 in the last ninety days.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Friday, September 14th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.85%.

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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Earnings History and Estimates for Equitable Group (TSE:EQB)

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