Equitable Group Inc. (EQB) to Post FY2019 Earnings of $11.67 Per Share, Cormark Forecasts

Equitable Group Inc. (TSE:EQB) – Investment analysts at Cormark decreased their FY2019 earnings estimates for Equitable Group in a report issued on Wednesday, May 1st, according to Zacks Investment Research. Cormark analyst J. Fenwick now expects that the company will earn $11.67 per share for the year, down from their prior estimate of $11.76.

EQB has been the topic of several other reports. TD Securities raised their price objective on shares of Equitable Group from C$83.00 to C$84.00 and gave the company a “hold” rating in a research report on Monday, May 13th. BMO Capital Markets raised their price objective on shares of Equitable Group from C$80.00 to C$85.00 in a research report on Monday, May 13th. CIBC raised their price objective on shares of Equitable Group from C$92.00 to C$94.00 in a research report on Friday, May 10th. National Bank Financial raised their price objective on shares of Equitable Group from C$77.00 to C$83.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada raised their price objective on shares of Equitable Group from C$75.00 to C$83.00 and gave the company a “sector perform” rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of C$85.67.

EQB opened at C$71.04 on Thursday. Equitable Group has a 1-year low of C$53.85 and a 1-year high of C$74.76. The company has a market capitalization of $1.21 billion and a price-to-earnings ratio of 7.29.

Equitable Group (TSE:EQB) last released its quarterly earnings results on Thursday, February 28th. The company reported C$2.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$2.71 by C($0.05). The business had revenue of C$94.12 million for the quarter, compared to analyst estimates of C$99.60 million.

In other Equitable Group news, Senior Officer Isabelle Farella sold 487 shares of Equitable Group stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of C$68.71, for a total value of C$33,461.77. Following the sale, the insider now directly owns 1,149 shares in the company, valued at approximately C$78,947.79. Also, Senior Officer Jody Lynn Sperling sold 880 shares of Equitable Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$70.21, for a total transaction of C$61,784.80. Following the completion of the sale, the insider now owns 691 shares in the company, valued at C$48,515.11. Insiders have sold a total of 6,077 shares of company stock worth $421,764 over the last 90 days.

About Equitable Group

Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates (GICs), high interest savings accounts (HISAs), tax-free savings accounts, and institutional deposit notes.

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Earnings History and Estimates for Equitable Group (TSE:EQB)

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