Shares of Equitable Group Inc. (TSE:EQB) have received an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$70.88.
EQB has been the subject of a number of recent analyst reports. National Bank Financial lifted their target price on Equitable Group from C$68.00 to C$70.00 and gave the company a “sector perform” rating in a report on Thursday, February 1st. Royal Bank of Canada reduced their target price on Equitable Group from C$74.00 to C$73.00 and set a “sector perform” rating for the company in a report on Friday, March 2nd. Scotiabank reduced their target price on Equitable Group from C$68.00 to C$67.00 and set a “sector perform” rating for the company in a report on Friday, March 2nd. TD Securities reduced their target price on Equitable Group from C$77.00 to C$70.00 in a report on Friday, March 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a C$65.00 target price on shares of Equitable Group in a report on Tuesday, April 10th.
In other Equitable Group news, Director Eric Marshall Beutel acquired 12,200 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average price of C$57.43 per share, with a total value of C$700,646.00. Also, insider Stephen Smith acquired 25,000 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were acquired at an average cost of C$53.00 per share, with a total value of C$1,325,000.00. Insiders have acquired a total of 56,200 shares of company stock valued at $3,046,730 in the last ninety days.
EQB traded down C$0.47 during trading hours on Tuesday, hitting C$54.30. The stock had a trading volume of 29,300 shares, compared to its average volume of 30,922. Equitable Group has a 1 year low of C$36.15 and a 1 year high of C$72.98.
Equitable Group (TSE:EQB) last announced its quarterly earnings data on Wednesday, February 28th. The company reported C$2.36 earnings per share for the quarter, topping the consensus estimate of C$2.30 by C$0.06. Equitable Group had a return on equity of 15.06% and a net margin of 45.86%. The company had revenue of C$88.20 million during the quarter, compared to analyst estimates of C$85.00 million.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Thursday, April 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Wednesday, March 14th. This is a positive change from Equitable Group’s previous quarterly dividend of $0.25.
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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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