Q3 2017 EPS Estimates for Bank of Montreal (BMO) Lowered by Analyst

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities research analysts at Cormark reduced their Q3 2017 earnings per share (EPS) estimates for shares of Bank of Montreal in a report issued on Thursday. Cormark analyst M. Grauman now forecasts that the bank will earn $2.08 per share for the quarter, down from their prior forecast of $2.15. Cormark also issued estimates for Bank of Montreal’s Q4 2017 earnings at $2.03 EPS, FY2017 earnings at $8.12 EPS, Q1 2018 earnings at $1.96 EPS, Q2 2018 earnings at $2.03 EPS, Q3 2018 earnings at $2.17 EPS, Q4 2018 earnings at $2.18 EPS and FY2018 earnings at $8.34 EPS.

Bank of Montreal (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 24th. The bank reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by $0.02. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.44 billion.

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Earnings History and Estimates for Bank of Montreal (TSE:BMO)

Several other equities research analysts have also recently weighed in on BMO. Royal Bank of Canada upped their target price on Bank of Montreal from C$97.00 to C$108.00 in a research note on Monday, January 30th. Barclays PLC upped their target price on Bank of Montreal from C$82.00 to C$86.00 in a research note on Monday, February 13th. CIBC upped their target price on Bank of Montreal from C$100.00 to C$101.00 in a research note on Wednesday, February 15th. Keefe, Bruyette & Woods cut their target price on Bank of Montreal from C$105.00 to C$95.00 in a research note on Tuesday, February 21st. Finally, National Bank Financial restated a “sector perform” rating on shares of Bank of Montreal in a research note on Monday, February 20th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Bank of Montreal currently has a consensus rating of “Hold” and an average price target of C$99.43.

Shares of Bank of Montreal (TSE:BMO) opened at 91.17 on Friday. The firm has a market cap of $59.44 billion and a price-to-earnings ratio of 11.47. Bank of Montreal has a one year low of $79.82 and a one year high of $104.15. The stock’s 50 day moving average price is $96.39 and its 200 day moving average price is $96.72.

In related news, insider Gilles Gerard Ouellette sold 38,412 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of C$100.50, for a total transaction of C$3,860,406.00. Also, insider Alexandra Dousmanis-Curtis sold 7,177 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of C$102.90, for a total value of C$738,513.30. Over the last ninety days, insiders have sold 158,563 shares of company stock valued at $16,251,430.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be given a dividend of $0.90 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.88. This represents a $3.60 annualized dividend and a yield of 3.95%.

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.

12 Month Chart for TSE:BMO

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