AGF Management (TSE:AGF.B) Hits New 12-Month High – Here’s Why

AGF Management Limited (TSE:AGF.B) reached a new 52-week high on Wednesday . The stock traded as high as C$16.24 and last traded at C$16.17, with a volume of 122646 shares trading hands. The stock had previously closed at C$16.01.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AGF.B shares. BMO Capital Markets lifted their price objective on AGF Management from C$12.00 to C$15.00 in a research note on Tuesday, September 16th. Royal Bank Of Canada set a C$18.00 price target on shares of AGF Management and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Desjardins increased their price objective on shares of AGF Management from C$16.50 to C$17.75 and gave the company a “buy” rating in a research report on Thursday, September 25th. Scotiabank lifted their price objective on shares of AGF Management from C$15.00 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 25th. Finally, TD Securities boosted their target price on shares of AGF Management from C$17.00 to C$18.00 in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$16.79.

AGF Management Price Performance

The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The company has a market capitalization of C$1.03 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The firm’s 50 day simple moving average is C$14.17 and its 200 day simple moving average is C$13.26.

AGF Management (TSE:AGF.B) last released its earnings results on Wednesday, September 24th. The company reported C$0.46 earnings per share (EPS) for the quarter. AGF Management had a net margin of 16.58% and a return on equity of 7.64%. The firm had revenue of C$107.50 million during the quarter. As a group, research analysts anticipate that AGF Management Limited will post 1.5610119 EPS for the current fiscal year.

AGF Management Company Profile

AGF Management is a Canadian-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of May 2022, the firm had CAD 40.3 billion in total assets under management. AGF Management’s funds are weighted more heavily toward equities, with just over two thirds of retail AUM being equity related.