FY2024 Earnings Estimate for Bank of Montreal (TSE:BMO) Issued By Desjardins

Bank of Montreal (TSE:BMO) (NYSE:BMO) – Equities researchers at Desjardins decreased their FY2024 earnings estimates for Bank of Montreal in a report released on Tuesday, August 27th. Desjardins analyst D. Young now expects that the bank will earn $10.30 per share for the year, down from their prior forecast of $10.75. Desjardins currently has a “Hold” rating and a $120.00 target price on the stock. The consensus estimate for Bank of Montreal’s current full-year earnings is $11.47 per share. Desjardins also issued estimates for Bank of Montreal’s Q4 2024 earnings at $2.51 EPS and FY2025 earnings at $11.30 EPS.

BMO has been the subject of a number of other research reports. National Bankshares dropped their price objective on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating for the company in a report on Wednesday. UBS Group set a C$122.00 target price on shares of Bank of Montreal and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Cormark lowered their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday. Scotiabank lowered shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$123.00 to C$112.00 in a research note on Wednesday. Finally, TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$130.00 to C$114.00 in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$121.00.

Bank of Montreal Price Performance

Bank of Montreal has a 1-year low of C$102.67 and a 1-year high of C$133.95. The firm has a 50-day moving average price of C$116.08 and a 200-day moving average price of C$122.52. The stock has a market capitalization of C$81.61 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.54 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Wednesday, May 29th. The bank reported C$2.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a net margin of 21.21% and a return on equity of 8.19%. The firm had revenue of C$7.97 billion during the quarter, compared to analysts’ expectations of C$8.06 billion.

Bank of Montreal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $6.20 annualized dividend and a dividend yield of ∞. Bank of Montreal’s dividend payout ratio is presently 71.35%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.