Cormark Expects Weaker Earnings for National Bank of Canada

National Bank of Canada (TSE:NA) – Stock analysts at Cormark dropped their FY2024 earnings estimates for shares of National Bank of Canada in a research report issued on Monday, November 25th. Cormark analyst L. Persaud now anticipates that the financial services provider will earn $10.35 per share for the year, down from their previous forecast of $10.37. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.84 per share. Cormark also issued estimates for National Bank of Canada’s Q4 2024 earnings at $2.55 EPS.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, topping the consensus estimate of C$2.50 by C$0.18. The firm had revenue of C$2.98 billion for the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%.

A number of other equities research analysts have also recently commented on the company. Barclays cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Jefferies Financial Group boosted their price target on National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. CIBC increased their price objective on shares of National Bank of Canada from C$135.00 to C$141.00 in a report on Tuesday. TD Securities boosted their target price on shares of National Bank of Canada from C$129.00 to C$140.00 in a report on Friday, November 15th. Finally, Canaccord Genuity Group raised their target price on shares of National Bank of Canada from C$123.00 to C$135.00 in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$132.40.

National Bank of Canada Trading Up 0.0 %

National Bank of Canada stock opened at C$137.43 on Wednesday. National Bank of Canada has a 12-month low of C$87.92 and a 12-month high of C$138.79. The firm has a market capitalization of C$46.78 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 7.14 and a beta of 1.12. The firm has a 50 day moving average of C$131.10 and a 200 day moving average of C$120.55.

Insider Transactions at National Bank of Canada

In related news, Director Yvon Charest purchased 285 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of C$133.71 per share, for a total transaction of C$38,107.35. Insiders own 0.21% of the company’s stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.