Bank of Montreal (NYSE:BMO) Posts Quarterly Earnings Results, Beats Estimates By $0.61 EPS
Bank of Montreal (NYSE:BMO) (TSE:BMO) issued its earnings results on Tuesday. The bank reported $2.43 EPS for the quarter, topping the consensus estimate of $1.82 by $0.61, Briefing.com reports. Bank of Montreal had a net margin of 16.48% and a return on equity of 14.14%. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the previous year, the firm earned $2.32 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis.
Shares of BMO stock opened at $74.32 on Wednesday. The firm has a market capitalization of $49.18 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.94 and a beta of 1.19. The stock has a fifty day moving average of $75.42 and a 200 day moving average of $74.03. Bank of Montreal has a 52 week low of $62.79 and a 52 week high of $79.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.
Several equities research analysts have weighed in on BMO shares. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group upgraded shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price objective on the stock in a research report on Friday, September 6th. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Finally, Scotiabank reiterated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $96.00.
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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