Barclays Reaffirms “Equal Weight” Rating for Bank of Montreal (BMO)
Bank of Montreal (NYSE:BMO)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays in a research report issued on Tuesday. They currently have a $84.00 target price on the stock, up from their previous target price of $80.00. Barclays’ price objective would indicate a potential upside of 13.51% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Bank of Montreal from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 31st. Analysts at RBC Capital downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 29th. Eight equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $72.00.
Bank of Montreal (NYSE:BMO) traded up 0.45% on Tuesday, hitting $74.17. 35,482 shares of the company’s stock traded hands. Bank of Montreal has a one year low of $60.34 and a one year high of $76.72. The stock has a 50-day moving average of $74.46 and a 200-day moving average of $69.37. The company has a market cap of $47.840 billion and a P/E ratio of 12.33.
Bank of Montreal (NYSE:BMO) last announced its earnings results on Wednesday, May 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.11. The company had revenue of $4.04 billion for the quarter. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Bank of Montreal will post $6.55 EPS for the current fiscal year.
Bank of Montreal (NYSE:BMO) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services.
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