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

EQB (TSE:EQB) had its price objective boosted by BMO Capital Markets from C$106.00 to C$119.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 8.92% from the stock’s current price.

Several other equities research analysts also recently issued reports on EQB. Scotiabank reduced their price objective on EQB from C$113.00 to C$109.00 in a research note on Monday, August 19th. CIBC increased their price objective on EQB from C$105.00 to C$113.00 in a research note on Friday, September 6th. TD Securities reduced their price objective 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. Cormark reduced their price objective 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. Finally, Raymond James reduced their price objective on EQB from C$110.00 to C$106.00 in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQB has an average rating of “Moderate Buy” and an average target price of C$108.00.

EQB Stock Up 1.3 %

Shares of TSE EQB traded up C$1.38 during mid-day trading on Monday, hitting C$109.25. 28,201 shares of the company traded hands, compared to its average volume of 57,882. EQB has a 1 year low of C$71.90 and a 1 year high of C$109.80. The stock has a market capitalization of C$4.19 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.34 and a beta of 1.59. The business has a 50 day moving average of C$104.85 and a two-hundred day moving average of C$96.26.

EQB (TSE:EQB) last announced its earnings results on Wednesday, August 28th. The company reported C$2.96 EPS for the quarter, beating the consensus estimate of C$2.93 by C$0.03. EQB had a return on equity of 14.70% and a net margin of 39.67%. The business had revenue of C$327.24 million during the quarter, compared to the consensus estimate of C$325.00 million. As a group, research analysts anticipate that EQB will post 12.5988235 EPS for the current year.

About EQB

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.