Brokerages Set Equitable Group Inc. (EQB) Price Target at $66.60

Brokerages Set Equitable Group Inc. (EQB) Price Target at $66.60

Shares of Equitable Group Inc. (TSE:EQB) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$66.60.

Several equities analysts have issued reports on EQB shares. Royal Bank Of Canada cut their price objective on Equitable Group from C$66.00 to C$61.00 and set a “sector perform” rating for the company in a research report on Thursday, October 6th. TD Securities reiterated a “buy” rating and issued a C$71.00 price objective on shares of Equitable Group in a research report on Thursday, January 5th. RBC Capital Markets lowered their target price on Equitable Group from C$66.00 to C$61.00 and set a “sector perform” rating for the company in a research note on Thursday, October 6th. Scotiabank lowered their target price on Equitable Group from C$69.00 to C$66.00 and set a “sector perform” rating for the company in a research note on Wednesday, December 14th. Finally, Cormark raised Equitable Group from a “market perform” rating to a “buy” rating in a research note on Tuesday, October 18th.

In other news, Director Rajesh Raut sold 500 shares of Equitable Group stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of C$60.63, for a total value of C$30,315.00.

Shares of Equitable Group (TSE:EQB) opened at 60.35 on Friday. Equitable Group has a one year low of $45.20 and a one year high of $63.69. The stock’s 50 day moving average price is $60.81 and its 200 day moving average price is $57.95. The stock has a market capitalization of $941.76 million and a P/E ratio of 7.68.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, January 5th were paid a $0.22 dividend. This is a boost from Equitable Group’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, December 13th.

Equitable Group Company Profile

Equitable Group Inc is a financial services company that operates through its subsidiary, Equitable Bank (the Bank). The Bank provides mortgage loans to a range of customers that include business-for-self borrowers, newcomers to Canada and commercial real estate investors. It also provides savers with various saving options that offer security and competitive interest rates, including guaranteed investment certificates (GICs), high interest savings accounts (HISAs) and deposit notes.

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