Equitable Group (EQGPF) Receives a Buy from RBC Capital

RBC Capital analyst Geoffrey Kwan maintained a Buy rating on Equitable Group (EQGPFResearch Report) today and set a price target of C$96.00. The company’s shares closed last Wednesday at $60.76.

According to, Kwan is a 4-star analyst with an average return of 7.3% and a 54.1% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Fleet Management, Brookfield Asset Mng, and IGM Financial.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Equitable Group with a $73.65 average price target, representing a 22.7% upside. In a report issued on February 4, Scotiabank also upgraded the stock to Buy with a C$94.00 price target.

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Based on Equitable Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $162 million and net profit of $72.47 million. In comparison, last year the company earned revenue of $152 million and had a net profit of $71.42 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQGPF in relation to earlier this year.

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Equitable Group Inc is a Canadian company that operates business through Equitable Bank, the company’s subsidiary. It owns several business lines, including single-family lending services, which offers mortgages for owner-occupied and investment properties; commercial lending services, which provides mortgages on a variety of commercial property types; securitization financing, which offers insured mortgages on properties funded through securitization; and deposit services, which provides savings products, including guaranteed investment certificates, high-interest savings accounts, and deposit notes. The company also runs a digital bank under the EQ Bank brand. The company operates business across Canada, with the majority of mortgage principal coming from Ontario, Alberta, and Quebec.

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