Laurentian Bank of Canada (TSE:LB – Get Free Report) was downgraded by stock analysts at Desjardins from a “hold” rating to a “sell” rating in a research note issued on Wednesday, BayStreet.CA reports. They presently have a C$26.00 price objective on the stock, down from their previous price objective of C$27.00. Desjardins also issued estimates for Laurentian Bank of Canada’s Q1 2024 earnings at $0.93 EPS, FY2024 earnings at $3.70 EPS and FY2025 earnings at $4.10 EPS.
Several other equities research analysts have also recently commented on LB. Scotiabank lowered their price target on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 20th. National Bank Financial lowered shares of Laurentian Bank of Canada from a “sector perform market weight” rating to an “underperform market weight” rating in a research note on Monday, October 16th. National Bankshares lifted their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$28.00 and gave the stock an “underperform” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reduced their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$28.09 and set a “market perform” rating on the stock in a research note on Thursday, November 23rd. Finally, CIBC reduced their price objective on shares of Laurentian Bank of Canada from C$35.00 to C$32.00 and set a “neutral” rating on the stock in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Laurentian Bank of Canada currently has an average rating of “Hold” and a consensus price target of C$31.01.
Laurentian Bank of Canada Stock Performance
Laurentian Bank of Canada (TSE:LB – Get Free Report) last posted its quarterly earnings data on Thursday, December 7th. The company reported C$1.00 earnings per share for the quarter, missing the consensus estimate of C$1.13 by C($0.13). The company had revenue of C$247.45 million during the quarter, compared to analyst estimates of C$261.30 million. Laurentian Bank of Canada had a net margin of 18.79% and a return on equity of 6.42%. Sell-side analysts forecast that Laurentian Bank of Canada will post 4.3607085 EPS for the current year.
Laurentian Bank of Canada Company Profile
Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.
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