Brokers Issue Forecasts for Equitable Group Inc.’s FY2018 Earnings (EQB)

Equitable Group Inc. (TSE:EQB) – Cormark upped their FY2018 earnings estimates for shares of Equitable Group in a research note issued on Monday, August 13th. Cormark analyst J. Fenwick now anticipates that the company will earn $9.89 per share for the year, up from their prior forecast of $9.87.

Several other research firms have also issued reports on EQB. National Bank Financial upped their price target on Equitable Group from C$62.00 to C$65.00 and gave the company a “c$61.15” rating in a research report on Monday, July 23rd. TD Securities upped their price target on Equitable Group from C$75.00 to C$77.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price target on Equitable Group from C$66.00 to C$74.00 and gave the company a “sector perform” rating in a research report on Friday, August 10th. Finally, BMO Capital Markets upped their price target on Equitable Group from C$65.00 to C$80.00 and gave the company an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$74.13.

EQB stock opened at C$62.78 on Wednesday. Equitable Group has a 12-month low of C$51.50 and a 12-month high of C$72.98.

In related news, insider Timothy James Wilson sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of C$57.00, for a total transaction of C$74,100.00. Also, Director Daniel Lee Dickinson sold 5,200 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of C$64.22, for a total value of C$333,944.00.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 4th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Thursday, September 13th.

About Equitable Group

Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. Its deposit products include guaranteed investment certificates (GICs), high interest savings accounts (HISAs), and deposit notes. The company also provides single family lending services, such as loans secured by owner-occupied and investment properties comprising detached and semi-detached houses, townhouses, and condos through a range of products, such as mortgages, home equity lines of credit, and equity release mortgages; and commercial lending products that include mortgages on commercial properties comprising mixed-use, multi-unit residential, shopping plaza, professional office, and industrial properties.

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

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