Q3 2019 Earnings Estimate for Laurentian Bank of Canada Issued By Desjardins (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Stock analysts at Desjardins reduced their Q3 2019 earnings per share (EPS) estimates for shares of Laurentian Bank of Canada in a report issued on Tuesday, August 6th. Desjardins analyst D. Young now forecasts that the company will earn $1.16 per share for the quarter, down from their prior forecast of $1.17. Desjardins also issued estimates for Laurentian Bank of Canada’s FY2019 earnings at $4.40 EPS and FY2020 earnings at $5.06 EPS.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Thursday, May 30th. The company reported C$1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.06 by C$0.02. The firm had revenue of C$239.88 million for the quarter, compared to analysts’ expectations of C$250.40 million.

Several other analysts have also commented on the stock. Canaccord Genuity reduced their price target on shares of Laurentian Bank of Canada from C$35.00 to C$34.00 in a research report on Wednesday, May 15th. CSFB set a C$41.00 price target on shares of Laurentian Bank of Canada and gave the company an “underperform” rating in a research report on Thursday, May 16th. Barclays lowered shares of Laurentian Bank of Canada from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from C$45.00 to C$46.00 in a research report on Tuesday, June 11th. TD Securities lifted their price target on shares of Laurentian Bank of Canada from C$47.00 to C$49.00 and gave the company a “hold” rating in a research report on Friday, May 31st. Finally, National Bank Financial lifted their price target on shares of Laurentian Bank of Canada from C$36.00 to C$38.00 and gave the company an “underperform” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of C$43.10.

LB stock opened at C$45.16 on Thursday. The stock has a market cap of $1.90 billion and a price-to-earnings ratio of 10.78. The firm’s 50 day moving average price is C$45.12. Laurentian Bank of Canada has a one year low of C$36.21 and a one year high of C$48.41.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Tuesday, July 2nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 5.85%. The ex-dividend date was Friday, June 28th. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.65. Laurentian Bank of Canada’s dividend payout ratio (DPR) is 61.59%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

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Earnings History and Estimates for Laurentian Bank of Canada (TSE:LB)

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