Equitable Group (TSE:EQB) Stock Passes Below 50-Day Moving Average of $59.35

Equitable Group Inc. (TSE:EQB – Get Rating)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$59.35 and traded as low as C$53.54. Equitable Group shares last traded at C$55.41, with a volume of 27,722 shares changing hands.

EQB has been the topic of several recent research reports. Raymond James lifted their price objective on shares of Equitable Group from C$85.00 to C$86.50 and gave the company an “outperform” rating in a research report on Thursday, May 12th. Royal Bank of Canada cut their price objective on shares of Equitable Group from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Thursday, May 12th. Scotiabank dropped their price target on shares of Equitable Group from C$94.00 to C$79.00 in a research report on Monday, May 9th. TD Securities dropped their price target on shares of Equitable Group from C$85.00 to C$80.00 and set a “buy” rating on the stock in a research report on Thursday, May 12th. Finally, Cormark dropped their price target on shares of Equitable Group from C$105.00 to C$88.00 and set a “buy” rating on the stock in a research report on Thursday, April 28th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$73.21.

The company’s 50 day moving average price is C$59.35 and its 200-day moving average price is C$67.82. The company has a market cap of C$1.89 billion and a price-to-earnings ratio of 6.23.

Equitable Group (TSE:EQB – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported C$2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.14 by C$0.50. The business had revenue of C$187.62 million during the quarter, compared to analyst estimates of C$172.85 million. On average, sell-side analysts anticipate that Equitable Group Inc. will post 9.9000003 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.09%. This is a boost from Equitable Group’s previous quarterly dividend of $0.28. Equitable Group’s payout ratio is currently 9.39%.

About Equitable Group (TSE:EQB)

Equitable Group Inc, through its subsidiary, Equitable Bank, provides personal and commercial banking services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates, high interest savings accounts, tax-free savings accounts, and institutional deposit notes, as well as specialized financing solutions.

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