$4.25 Billion in Sales Expected for Bank Of Montreal (BMO) This Quarter

Analysts expect Bank Of Montreal (NYSE:BMO) (TSE:BMO) to report sales of $4.25 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank Of Montreal’s earnings, with the highest sales estimate coming in at $4.40 billion and the lowest estimate coming in at $4.10 billion. Bank Of Montreal reported sales of $4.03 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.5%. The firm is expected to report its next quarterly earnings report before the market opens 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 fiscal year, with estimates ranging from $16.61 billion to $17.68 billion. For the next financial year, analysts expect that the company will post sales of $17.54 billion per share, with estimates ranging from $17.19 billion to $17.90 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Bank Of Montreal.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 earnings per share.

A number of research analysts have issued reports on BMO shares. BidaskClub lowered shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Canaccord Genuity set a $102.00 price target on shares of Bank Of Montreal and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Scotiabank reiterated a “buy” rating and set a $101.00 price target on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Macquarie began coverage on shares of Bank Of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.60.

Several hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its stake in shares of Bank Of Montreal by 37.9% during the third quarter. Archford Capital Strategies LLC now owns 19,093 shares of the bank’s stock valued at $1,446,000 after acquiring an additional 5,249 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Bank Of Montreal by 8.2% during the third quarter. Janney Montgomery Scott LLC now owns 20,680 shares of the bank’s stock worth $1,566,000 after buying an additional 1,574 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new position in Bank Of Montreal during the third quarter worth $545,000. Zions Bancorporation raised its stake in Bank Of Montreal by 3,656.5% during the third quarter. Zions Bancorporation now owns 2,329 shares of the bank’s stock worth $176,000 after buying an additional 2,267 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Bank Of Montreal by 8.6% during the third quarter. First Republic Investment Management Inc. now owns 8,464 shares of the bank’s stock worth $641,000 after buying an additional 668 shares during the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal (NYSE:BMO) opened at $77.01 on Friday. The firm has a market cap of $50,427.30, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank Of Montreal has a fifty-two week low of $65.86 and a fifty-two week high of $78.86.

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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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Earnings History and Estimates for Bank Of Montreal (NYSE:BMO)

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