Cormark Analysts Cut Earnings Estimates for Laurentian Bank of Canada (LB)

Laurentian Bank of Canada (TSE:LB) – Investment analysts at Cormark reduced their Q4 2018 earnings per share (EPS) estimates for Laurentian Bank of Canada in a report released on Wednesday. Cormark analyst M. Grauman now anticipates that the company will earn $1.59 per share for the quarter, down from their previous forecast of $1.68. Cormark also issued estimates for Laurentian Bank of Canada’s Q1 2019 earnings at $1.69 EPS, Q2 2019 earnings at $1.60 EPS, Q3 2019 earnings at $1.76 EPS and Q4 2019 earnings at $1.78 EPS.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Tuesday, December 5th. The company reported C$1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.54 by C$0.09. Laurentian Bank of Canada had a net margin of 22.10% and a return on equity of 11.90%.

Several other research analysts have also issued reports on LB. CSFB cut their target price on shares of Laurentian Bank of Canada from C$57.00 to C$55.00 in a research report on Friday. National Bank Financial reiterated a “sector perform market weight” rating on shares of Laurentian Bank of Canada in a research report on Tuesday. Scotiabank cut their target price on shares of Laurentian Bank of Canada from C$64.00 to C$59.00 and set a “sector perform” rating for the company in a research report on Wednesday. Barclays cut their target price on shares of Laurentian Bank of Canada from C$62.00 to C$59.00 in a research report on Wednesday. Finally, Desjardins cut their target price on shares of Laurentian Bank of Canada from C$60.00 to C$59.00 in a research report on Wednesday, December 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$59.10.

Shares of Laurentian Bank of Canada (TSE:LB) traded up C$0.47 during trading hours on Thursday, reaching C$53.38. 308,800 shares of the company traded hands, compared to its average volume of 418,830. Laurentian Bank of Canada has a one year low of C$51.57 and a one year high of C$62.90. The stock has a market capitalization of $2,080.00, a price-to-earnings ratio of 9.90 and a beta of 0.48.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.72%. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 29th. Laurentian Bank of Canada’s dividend payout ratio is presently 45.64%.

COPYRIGHT VIOLATION WARNING: “Cormark Analysts Cut Earnings Estimates for Laurentian Bank of Canada (LB)” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.com-unik.info/2018/01/20/cormark-analysts-cut-earnings-estimates-for-laurentian-bank-of-canada-lb.html.

About Laurentian Bank of Canada

Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.

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

Receive News & Ratings for Laurentian Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laurentian Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit