What is Cormark’s Estimate for BMO FY2024 Earnings?

Bank of Montreal (NYSE:BMO) (TSE:BMO) – Equities research analysts at Cormark decreased their FY2024 earnings per share estimates for Bank of Montreal in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud now forecasts that the bank will earn $7.35 per share for the year, down from their previous estimate of $7.52. The consensus estimate for Bank of Montreal’s current full-year earnings is $7.40 per share. Cormark also issued estimates for Bank of Montreal’s FY2025 earnings at $8.10 EPS and FY2026 earnings at $9.13 EPS.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year.

BMO has been the subject of several other research reports. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, Barclays decreased their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Bank of Montreal presently has a consensus rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Trading Down 1.2 %

BMO stock opened at $94.40 on Tuesday. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12. The stock has a market cap of $68.87 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a fifty day moving average price of $92.18 and a two-hundred day moving average price of $88.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

Institutional Trading of Bank of Montreal

Institutional investors have recently modified their holdings of the stock. Brown Shipley& Co Ltd bought a new stake in Bank of Montreal during the first quarter worth about $160,000. Cetera Investment Advisers raised its holdings in shares of Bank of Montreal by 454.8% during the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock worth $1,677,000 after buying an additional 14,076 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Bank of Montreal by 171.3% during the 1st quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after buying an additional 3,953 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Bank of Montreal in the first quarter valued at about $105,000. Finally, EverSource Wealth Advisors LLC grew its position in Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

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.