FY2024 EPS Estimates for Laurentian Bank of Canada Lowered by Cormark (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Cormark dropped their FY2024 earnings per share estimates for Laurentian Bank of Canada in a note issued to investors on Tuesday, September 3rd. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $3.56 for the year, down from their prior estimate of $3.61. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.94 per share.

LB has been the topic of a number of other research reports. Raymond James raised their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. CIBC dropped their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group dropped their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. Finally, Desjardins raised their price target on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, Laurentian Bank of Canada has a consensus rating of “Hold” and a consensus target price of C$27.42.

Laurentian Bank of Canada Stock Performance

Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$38.11. The company has a market capitalization of C$1.16 billion, a PE ratio of -94.96, a P/E/G ratio of 0.76 and a beta of 1.25. The stock’s 50-day moving average is C$26.29 and its 200-day moving average is C$26.59.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is presently -671.43%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.