Desjardins Weighs in on Laurentian Bank of Canada’s FY2018 Earnings (LB)

Laurentian Bank of Canada (TSE:LB) – Stock analysts at Desjardins dropped their FY2018 earnings per share estimates for shares of Laurentian Bank of Canada in a research report issued on Friday. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $5.95 for the year, down from their prior forecast of $6.01. Desjardins also issued estimates for Laurentian Bank of Canada’s FY2019 earnings at $6.35 EPS.

A number of other research firms have also commented on LB. Canaccord Genuity lifted their price objective on Laurentian Bank of Canada from C$63.00 to C$67.00 in a research note on Wednesday, November 1st. CIBC boosted their price target on Laurentian Bank of Canada from C$61.00 to C$66.00 in a research note on Monday, November 13th. CSFB lowered their price target on Laurentian Bank of Canada from C$57.00 to C$55.00 in a research note on Tuesday, January 9th. Barclays upgraded Laurentian Bank of Canada from an “equal weight” rating to an “outperform” rating in a research note on Tuesday, December 19th. Finally, Scotiabank lowered their price target on Laurentian Bank of Canada from C$67.00 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of C$58.90.

Laurentian Bank of Canada (TSE LB) traded up C$0.53 during trading on Monday, hitting C$52.42. The stock had a trading volume of 100,129 shares, compared to its average volume of 300,471. The company has a market capitalization of $2,160.00, a price-to-earnings ratio of 9.71 and a beta of 0.42. Laurentian Bank of Canada has a twelve month low of C$51.26 and a twelve month high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Tuesday, December 5th. The company reported C$1.63 EPS for the quarter, topping analysts’ consensus estimates of C$1.54 by C$0.09. The business had revenue of C$267.97 million for the quarter, compared to analyst estimates of C$257.83 million. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.81%. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 29th. Laurentian Bank of Canada’s payout ratio is currently 45.64%.

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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)

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