Brokers Issue Forecasts for Bank of Montreal’s Q3 2024 Earnings (TSE:BMO)
Bank of Montreal (TSE:BMO – Free Report) (NYSE:BMO) – Research analysts at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for Bank of Montreal in a report issued on Tuesday, February 27th. National Bank Financial analyst G. Dechaine now anticipates that the bank will post earnings per share of $3.09 for the quarter, down from their previous forecast of $3.20. The consensus estimate for Bank of Montreal’s current full-year earnings is $12.09 per share. National Bank Financial also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.99 EPS and FY2024 earnings at $11.32 EPS.
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last announced its earnings results on Friday, December 1st. The bank reported C$2.81 EPS for the quarter, missing analysts’ consensus estimates of C$2.86 by C($0.05). The firm had revenue of C$8.36 billion for the quarter. Bank of Montreal had a net margin of 15.04% and a return on equity of 5.91%.
Several other equities research analysts also recently weighed in on BMO. National Bankshares cut their target price on shares of Bank of Montreal from C$141.00 to C$137.00 in a research note on Wednesday. Canaccord Genuity Group cut their price objective on Bank of Montreal from C$137.00 to C$136.00 and set a “buy” rating on the stock in a research report on Wednesday. Scotiabank decreased their target price on Bank of Montreal from C$145.00 to C$141.00 and set an “outperform” rating for the company in a report on Wednesday. Bank of America upgraded Bank of Montreal from a “neutral” rating to a “buy” rating and upped their price target for the stock from C$120.00 to C$145.00 in a report on Monday, December 18th. Finally, TD Securities decreased their price objective on Bank of Montreal from C$140.00 to C$135.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$132.70.
View Our Latest Research Report on BMO
Bank of Montreal Price Performance
Shares of TSE:BMO opened at C$123.07 on Friday. The firm’s 50-day moving average is C$127.45 and its two-hundred day moving average is C$118.31. Bank of Montreal has a 1 year low of C$102.67 and a 1 year high of C$132.11. The firm has a market capitalization of C$88.72 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.54 and a beta of 1.18.
Bank of Montreal Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal’s dividend payout ratio (DPR) is 106.34%.
About Bank of Montreal
Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.
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