National Bank analyst National Bank maintained a Hold rating on Equitable Group (EQGPF) yesterday and set a price target of C$75.00. The company’s shares closed last Wednesday at $47.97.
Equitable Group has an analyst consensus of Moderate Buy, with a price target consensus of $59.61, representing a 23.6% upside. In a report issued on July 23, Scotiabank also maintained a Hold rating on the stock with a C$83.00 price target.
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Based on Equitable Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $125 million and net profit of $25.97 million. In comparison, last year the company earned revenue of $112 million and had a net profit of $41.66 million.
Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQGPF in relation to earlier this year.
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Equitable Group Inc is a Canadian company that operates business through Equitable Bank, the company’s subsidiary. It owns several business lines, including single-family lending services, which offers mortgages for owner-occupied and investment properties; commercial lending services, which provides mortgages on a variety of commercial property types; securitization financing, which offers insured mortgages on properties funded through securitization; and deposit services, which provides savings products, including guaranteed investment certificates, high-interest savings accounts, and deposit notes. The company also runs a digital bank under the EQ Bank brand. The company operates business across Canada, with the majority of mortgage principal coming from Ontario, Alberta, and Quebec.
