Brokerages Anticipate Bank Of Montreal (BMO) Will Announce Quarterly Sales of $4.25 Billion
Equities research analysts expect Bank Of Montreal (NYSE:BMO) (TSE:BMO) to announce sales of $4.25 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bank Of Montreal’s earnings. The highest sales estimate is $4.40 billion and the lowest is $4.10 billion. Bank Of Montreal reported sales of $4.03 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Bank Of Montreal will report full year sales of $4.25 billion for the current financial year, with estimates ranging from $16.61 billion to $17.68 billion. For the next fiscal year, analysts forecast that the company will report sales of $17.54 billion per share, with estimates ranging from $17.19 billion to $17.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bank Of Montreal.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.52 billion. Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share.
Several equities analysts have recently issued reports on BMO shares. BidaskClub upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Scotiabank restated a “buy” rating and set a $101.00 price objective on shares of Bank Of Montreal in a report on Wednesday, August 30th. Canaccord Genuity started coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They set a “hold” rating on the stock. Macquarie started coverage on shares of Bank Of Montreal in a report on Tuesday. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, July 18th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bank Of Montreal has an average rating of “Hold” and a consensus target price of $99.00.
Bank Of Montreal (BMO) traded up 0.20% during mid-day trading on Tuesday, reaching $78.38. 211,260 shares of the company’s stock were exchanged. The company’s 50-day moving average is $76.05 and its 200 day moving average is $73.21. The firm has a market capitalization of $50.87 billion, a P/E ratio of 11.72 and a beta of 1.04. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.86.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be given a $0.717 dividend. This represents a $2.87 annualized dividend and a yield of 3.67%. The ex-dividend date is Tuesday, October 31st. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is currently 46.91%.
Institutional investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. boosted its position in Bank Of Montreal by 1.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after purchasing an additional 15 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Bank Of Montreal by 409.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after buying an additional 1,260 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Bank Of Montreal by 11.5% during the 2nd quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after buying an additional 166 shares in the last quarter. Hudock Capital Group LLC lifted its position in shares of Bank Of Montreal by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after buying an additional 9 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Bank Of Montreal by 12.2% during the 2nd quarter. Huntington National Bank now owns 2,713 shares of the bank’s stock valued at $200,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 42.77% of the company’s stock.
About Bank Of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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