BMO Capital Markets Forecasts Strong Price Appreciation for EQB (TSE:EQB) Stock

EQB (TSE:EQB) had its price objective upped by stock analysts at BMO Capital Markets from C$106.00 to C$119.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 8.92% from the company’s previous close.

A number of other brokerages also recently commented on EQB. Raymond James lowered their price objective on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. TD Securities decreased their price target on EQB from C$112.00 to C$109.00 and set a “buy” rating for the company in a research note on Friday, August 30th. CIBC increased their price target on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. Scotiabank decreased their price target on EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. Finally, Cormark decreased their price target on EQB from C$121.00 to C$111.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$108.00.

EQB Trading Up 1.3 %

EQB traded up C$1.38 during trading on Monday, reaching C$109.25. 28,201 shares of the company were exchanged, compared to its average volume of 57,882. The stock has a market cap of C$4.19 billion, a P/E ratio of 11.48, a PEG ratio of 0.34 and a beta of 1.59. The firm has a 50 day moving average of C$104.85 and a 200 day moving average of C$96.26. EQB has a 52 week low of C$71.90 and a 52 week high of C$109.80.

EQB (TSE:EQB) last issued its quarterly earnings data on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, topping analysts’ consensus estimates of C$2.93 by C$0.03. The firm had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. EQB had a return on equity of 14.70% and a net margin of 39.67%. As a group, analysts forecast that EQB will post 12.5988235 earnings per share for the current fiscal year.

EQB Company Profile

EQB Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, institutional deposit notes and covered bonds, as well as specialized financing solutions.