Bank of Montreal Earns A Credit Rating (BMO)
Bank of Montreal (NYSE:BMO) has been given an “A” credit rating by Morningstar. The credit rating agency’s “A” rating suggests that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a two star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at TD Securities upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday, August 27th. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Bank of Montreal in a research note on Tuesday, August 19th. They now have a $84.00 price target on the stock, up previously from $80.00. Finally, 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $84.00.
Bank of Montreal (NYSE:BMO) opened at 77.43 on Wednesday. Bank of Montreal has a one year low of $60.34 and a one year high of $77.53. The stock has a 50-day moving average of $74.79 and a 200-day moving average of $70.37. The company has a market cap of $50.020 billion and a price-to-earnings ratio of 12.78.
Bank of Montreal (NYSE:BMO) last released its earnings data on Tuesday, August 26th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.51 by $0.06. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the company posted $1.68 earnings per share. Bank of Montreal’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Bank of Montreal will post $6.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.7111 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, October 30th.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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