Cormark Has Negative Estimate for TSE:NA FY2024 Earnings

National Bank of Canada (TSE:NA) – Investment analysts at Cormark lowered their FY2024 earnings per share estimates for shares of National Bank of Canada in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now forecasts 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.

A number of other analysts have also issued reports on the company. CIBC boosted their price target on National Bank of Canada from C$135.00 to C$141.00 in a report on Tuesday. Canaccord Genuity Group upped their target price on National Bank of Canada from C$123.00 to C$135.00 in a report on Tuesday, November 19th. BMO Capital Markets lifted their target price on National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday, November 18th. Cibc World Mkts lowered National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Barclays cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$132.40.

National Bank of Canada Price Performance

National Bank of Canada stock opened at C$137.43 on Wednesday. The stock has a market cap of C$46.78 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The firm has a 50-day moving average of C$131.10 and a two-hundred day moving average of C$120.55. National Bank of Canada has a 1 year low of C$87.92 and a 1 year high of C$138.79.

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

Insiders Place Their Bets

In other news, Director Yvon Charest acquired 285 shares of National Bank of Canada stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of C$133.71 per share, for a total transaction of C$38,107.35. Corporate insiders own 0.21% of the company’s stock.

National Bank of Canada Company Profile

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.