Q4 2017 Earnings Forecast for Bank of Montreal (BMO) Issued By Cormark
Bank of Montreal (TSE:BMO) (NYSE:BMO) – Research analysts at Cormark dropped their Q4 2017 earnings per share (EPS) estimates for shares of Bank of Montreal in a research note issued to investors on Wednesday. Cormark analyst M. Grauman now expects that the bank will post earnings per share of $2.03 for the quarter, down from their prior forecast of $2.05. Cormark also issued estimates for Bank of Montreal’s Q1 2018 earnings at $1.89 EPS, Q2 2018 earnings at $2.00 EPS and Q4 2018 earnings at $2.21 EPS.
A number of other equities research analysts have also issued reports on the stock. Scotiabank dropped their target price on shares of Bank of Montreal from C$107.00 to C$104.00 and set an “outperform” rating for the company in a report on Thursday, May 25th. TD Securities raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a C$105.00 target price for the company in a report on Thursday, June 1st. Barclays PLC raised shares of Bank of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada dropped their target price on shares of Bank of Montreal from C$110.00 to C$108.00 and set a “sector perform” rating for the company in a report on Thursday, May 25th. Finally, Canaccord Genuity upped their target price on shares of Bank of Montreal from C$99.00 to C$102.00 and gave the stock a “hold” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$100.00.
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Bank of Montreal (BMO) traded down 0.29% during mid-day trading on Thursday, reaching $89.84. 203,410 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $94.57 and a 200-day moving average price of $96.57. Bank of Montreal has a 12-month low of $83.43 and a 12-month high of $104.15. The stock has a market capitalization of $60.78 billion and a PE ratio of 10.99.
In other news, Director La Flèche Eric Richer acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average price of C$93.82 per share, with a total value of C$187,640.00. Also, Director Thomas Earl Flynn sold 10,951 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of C$91.60, for a total transaction of C$1,003,111.60.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.00%.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The companys personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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