FY2019 Earnings Forecast for Laurentian Bank of Canada Issued By Cormark (LB)

Laurentian Bank of Canada (TSE:LB) – Stock analysts at Cormark reduced their FY2019 EPS estimates for Laurentian Bank of Canada in a research note issued on Thursday, December 6th. Cormark analyst M. Grauman now forecasts that the company will earn $5.25 per share for the year, down from their prior forecast of $5.30. Cormark also issued estimates for Laurentian Bank of Canada’s Q1 2020 earnings at $1.37 EPS, Q2 2020 earnings at $1.30 EPS, Q3 2020 earnings at $1.41 EPS, Q4 2020 earnings at $1.42 EPS and FY2020 earnings at $5.50 EPS.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Tuesday, September 4th. The company reported C$1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.47 by C($0.13). The firm had revenue of C$260.66 million for the quarter, compared to the consensus estimate of C$267.51 million.

A number of other analysts also recently weighed in on LB. Royal Bank of Canada decreased their price objective on Laurentian Bank of Canada from C$56.00 to C$51.00 and set a “sector perform” rating for the company in a report on Thursday. National Bank Financial decreased their price objective on Laurentian Bank of Canada from C$48.00 to C$45.00 and set a “sector perform” rating for the company in a report on Wednesday, September 5th. Barclays decreased their price objective on Laurentian Bank of Canada from C$48.00 to C$46.00 in a report on Thursday. Desjardins decreased their price objective on Laurentian Bank of Canada from C$45.00 to C$44.00 in a report on Thursday. Finally, Canaccord Genuity decreased their price objective on Laurentian Bank of Canada from C$44.00 to C$40.00 in a report on Thursday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$46.64.

Shares of TSE:LB opened at C$39.66 on Friday. Laurentian Bank of Canada has a 52-week low of C$37.05 and a 52-week high of C$58.08.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

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

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