Analyst Reduces FY2024 EPS Estimates for National Bank of Canada (OTCMKTS:NTIOF)

On November 1st, 2024, investment analysts at Desjardins provided an update regarding their earnings estimates for the National Bank of Canada (OTCMKTS:NTIOF). The analysts have revised down their forecast for the bank's earnings per share (EPS) for the fiscal year 2024 from $7.68 to $7.49. This new estimate is slightly lower than the consensus view, which is currently set at $7.67 per share.

Furthermore, Desjardins has provided updated estimates for the bank's Q4 2024 earnings, projecting an EPS of $1.86, along with a forecast of $7.74 EPS for the fiscal year 2025.

In another development related to the National Bank, Cibc World Markets has downgraded the bank's rating from "strong-buy" to "hold" in a report issued on September 20th.

Current Stock Performance

The shares of National Bank of Canada were trading at $94.68 on Monday morning, reflecting a decrease of 0.9%. The stock has a 50-day simple moving average of $93.77 and a more extended 200-day simple moving average of $86.49. With a market capitalization of $32.24 billion, the bank has a price-to-earnings (PE) ratio of 12.66 and a beta of 1.07. Notably, the stock hit a low of $63.16 and a high of $96.51 over the past twelve months.

Recently, the National Bank announced its quarterly earnings on August 28th, where it reported an EPS of $1.96. The firm generated revenue of $2.18 billion during that quarter and achieved a net margin of 19.10%, alongside a return on equity of 17.29%.

Dividend Increase Announcement

In a positive announcement for investors, National Bank of Canada revealed an increase in its dividend, which was paid out on November 1st. Shareholders who were on record as of September 30th received a dividend payment of $0.8081 per share, marking a yield of 3.45%. This is slightly higher than the previous dividend of $0.81. The company's current dividend payout ratio stands at 43.58%.

About National Bank of Canada

National Bank of Canada offers a range of financial services aimed at individuals, businesses, institutional clients, and governments both in Canada and internationally. The bank operates through four main segments: Personal and Commercial Banking, Wealth Management, Financial Markets, and U.S. Specialty Finance & International. Services include personal banking, mortgage loans, commercial banking, investment solutions, and various insurance products.

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