Equitable Group Inc. (EQB) Expected to Post FY2020 Earnings of $12.95 Per Share

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Equitable Group Inc. (TSE:EQB) – Investment analysts at National Bank Financial increased their FY2020 earnings per share (EPS) estimates for Equitable Group in a report released on Monday, May 13th. National Bank Financial analyst J. Gloyn now anticipates that the company will earn $12.95 per share for the year, up from their previous forecast of $11.93. National Bank Financial currently has a “Sector Perform” rating and a $83.00 target price on the stock.

Equitable Group (TSE:EQB) last issued its earnings results on Thursday, February 28th. The company reported C$2.66 EPS for the quarter, missing analysts’ consensus estimates of C$2.71 by C($0.05). The company had revenue of C$94.12 million during the quarter, compared to analyst estimates of C$99.60 million.

A number of other analysts have also commented on the company. TD Securities boosted their price objective on Equitable Group from C$80.00 to C$82.00 in a report on Tuesday, February 5th. Royal Bank of Canada boosted their price objective on Equitable Group from C$75.00 to C$83.00 and gave the stock a “sector perform” rating in a report on Friday, March 1st. CIBC reissued an “average” rating and set a C$92.00 price objective on shares of Equitable Group in a report on Friday, March 1st. Finally, BMO Capital Markets boosted their price objective on Equitable Group from C$80.00 to C$85.00 in a report on Monday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of C$85.67.

Shares of Equitable Group stock opened at C$72.30 on Thursday. Equitable Group has a one year low of C$53.85 and a one year high of C$74.76. The stock has a market capitalization of $1.21 billion and a P/E ratio of 7.48.

In related news, Director Ronald Walter Tratch sold 1,905 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of C$66.50, for a total value of C$126,682.50. Following the transaction, the director now owns 1,103 shares in the company, valued at C$73,349.50. Also, Senior Officer Jody Lynn Sperling sold 880 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$70.21, for a total value of C$61,784.80. Following the completion of the transaction, the insider now owns 691 shares in the company, valued at approximately C$48,515.11. In the last quarter, insiders sold 6,077 shares of company stock worth $421,764.

Equitable Group Company Profile

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.

Further Reading: Leveraged Buyout (LBO)

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

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