Analysts Set Equitable Group Inc. (EQB) Price Target at $74.13
Equitable Group Inc. (TSE:EQB) has earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$74.13.
Several brokerages have recently weighed in on EQB. BMO Capital Markets upped their price objective on Equitable Group from C$65.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, August 13th. TD Securities upped their price objective on Equitable Group from C$75.00 to C$77.00 and gave the company a “buy” rating in a report on Monday, August 13th. Royal Bank of Canada upped their price objective on Equitable Group from C$66.00 to C$74.00 and gave the company a “sector perform” rating in a report on Friday, August 10th. Finally, National Bank Financial upped their price objective on Equitable Group from C$65.00 to C$70.00 in a report on Friday, August 10th.
In related news, insider Timothy James Wilson sold 2,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of C$63.50, for a total transaction of C$127,000.00. Also, Director Daniel Lee Dickinson sold 5,200 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of C$64.22, for a total value of C$333,944.00. Over the last ninety days, insiders have sold 19,159 shares of company stock valued at $1,241,308.
Equitable Group (TSE:EQB) last announced its quarterly earnings data on Thursday, August 9th. The company reported C$2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$2.24 by C$0.21. The business had revenue of C$214.96 million during the quarter, compared to analyst estimates of C$84.60 million. Equitable Group had a return on equity of 15.06% and a net margin of 45.86%.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, September 13th.
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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