Cormark Brokers Reduce Earnings Estimates for Chesswood Group Limited (TSE:CHW)

Chesswood Group Limited (TSE:CHWGet Rating) – Analysts at Cormark dropped their FY2022 earnings estimates for shares of Chesswood Group in a report issued on Monday, May 16th. Cormark analyst J. Fenwick now expects that the company will post earnings per share of $1.39 for the year, down from their previous forecast of $1.56. Cormark also issued estimates for Chesswood Group’s Q4 2022 earnings at $0.43 EPS, Q1 2023 earnings at $0.49 EPS, Q2 2023 earnings at $0.54 EPS, Q3 2023 earnings at $0.59 EPS, Q4 2023 earnings at $0.63 EPS and FY2023 earnings at $2.24 EPS.

Chesswood Group (TSE:CHWGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported C$0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$44.24 million during the quarter, compared to the consensus estimate of C$41.60 million.

Several other analysts have also issued reports on the company. Royal Bank of Canada increased their target price on Chesswood Group from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a report on Tuesday. Raymond James set a C$17.00 price target on shares of Chesswood Group and gave the stock an “outperform” rating in a report on Thursday, March 10th.

Shares of TSE:CHW opened at C$14.49 on Wednesday. The business’s 50 day simple moving average is C$14.17 and its 200 day simple moving average is C$14.14. Chesswood Group has a 1 year low of C$10.94 and a 1 year high of C$15.25. The company has a debt-to-equity ratio of 720.15, a current ratio of 33.47 and a quick ratio of 31.87. The company has a market capitalization of C$251.50 million and a P/E ratio of 9.11.

In other Chesswood Group news, Director Gary Souverein sold 15,000 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of C$14.75, for a total value of C$221,250.00. Following the completion of the transaction, the director now directly owns 330,757 shares in the company, valued at C$4,878,665.75.

The company also recently disclosed a monthly dividend, which was paid on Monday, May 16th. Investors of record on Saturday, April 30th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $0.48 dividend on an annualized basis and a yield of 3.31%. Chesswood Group’s dividend payout ratio is currently 20.13%.

Chesswood Group Company Profile (Get Rating)

Chesswood Group Limited, a financial services company, operates primarily in the specialty finance industry. The company offers micro and small-ticket commercial equipment financing to small and medium-sized businesses through a network of approximately 600 equipment finance broker firms and equipment vendors in the United States; and commercial equipment financing to small and medium businesses through a network of approximately 60 equipment finance broker firms in Canada.

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Earnings History and Estimates for Chesswood Group (TSE:CHW)

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