Jefferies Financial Group Issues Pessimistic Forecast for EQB (TSE:EQB) Stock Price

EQB (TSE:EQB) had its target price cut by analysts at Jefferies Financial Group from C$128.00 to C$127.00 in a research report issued on Thursday, BayStreet reports. Jefferies Financial Group’s price target points to a potential downside of 4.99% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. National Bank Financial raised their price target on shares of EQB from C$120.00 to C$143.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Raymond James Financial lowered shares of EQB from a “hold” rating to a “strong sell” rating and dropped their price objective for the company from C$136.00 to C$120.00 in a report on Friday, August 28th. Desjardins cut their price objective on shares of EQB from C$155.00 to C$150.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. TD raised their target price on EQB from C$123.00 to C$154.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce decreased their target price on EQB from C$165.00 to C$154.00 and set an “outperformer” rating for the company in a research report on Friday, August 28th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$139.10.

EQB Stock Performance

Shares of EQB stock traded up C$5.03 on Thursday, reaching C$133.67. 38,785 shares of the company’s stock were exchanged, compared to its average volume of 121,611. The company has a market capitalization of C$5.69 billion, a P/E ratio of -477.39, a price-to-earnings-growth ratio of 0.34 and a beta of 0.92. EQB has a 52 week low of C$83.93 and a 52 week high of C$150.32. The firm’s 50-day moving average is C$137.01 and its two-hundred day moving average is C$123.88.

EQB (TSE:EQB) last released its quarterly earnings data on Wednesday, August 26th. The company reported C$2.12 earnings per share for the quarter. EQB had a negative net margin of 0.08% and a negative return on equity of 0.07%. The company had revenue of C$393.04 million during the quarter. On average, analysts expect that EQB will post 12.5988235 EPS for the current fiscal year.

Insider Transactions at EQB

In other EQB news, insider Loblaw Companies Limited bought 16,000 shares of EQB stock in a transaction dated Thursday, August 27th. The stock was bought at an average cost of C$124.91 per share, with a total value of C$1,998,560.00. Following the completion of the acquisition, the insider directly owned 1,474,100 shares in the company, valued at approximately C$184,129,831. The trade was a 1.10% increase in their position. Also, Director Darren Lorimer sold 750 shares of the company’s stock in a transaction on Thursday, July 16th. The shares were sold at an average price of C$149.24, for a total value of C$111,930.00. Following the completion of the transaction, the director owned 6,988 shares of the company’s stock, valued at C$1,042,889.12. This trade represents a 9.69% decrease in their position. Over the last ninety days, insiders acquired 78,100 shares of company stock valued at $10,641,748 and sold 7,484 shares valued at $1,069,719. Corporate insiders own 29.02% of the company’s stock.

EQB Company Profile

EQB Inc (TSX: EQB) is a leading Canadian financial services company with approximately $151 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country’s seventh largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve more than 4 million customers, turning everyday moments into meaningful progress.