Bank of Montreal (NYSE:BMO) Expected to Announce Earnings of $2.32 Per Share

Wall Street analysts predict that Bank of Montreal (NYSE:BMO) (TSE:BMO) will report earnings of $2.32 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Bank of Montreal’s earnings. The highest EPS estimate is $2.47 and the lowest is $2.24. Bank of Montreal posted earnings per share of $1.35 in the same quarter last year, which indicates a positive year-over-year growth rate of 71.9%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 24th.

On average, analysts expect that Bank of Montreal will report full-year earnings of $9.67 per share for the current fiscal year, with EPS estimates ranging from $9.29 to $10.00. For the next fiscal year, analysts expect that the company will report earnings of $9.58 per share, with EPS estimates ranging from $9.12 to $9.85. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Bank of Montreal.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, May 25th. The bank reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.95. The business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Bank of Montreal had a return on equity of 14.17% and a net margin of 18.81%. During the same quarter in the prior year, the firm posted $1.04 EPS.

A number of equities research analysts recently weighed in on the company. Canaccord Genuity upped their price target on Bank of Montreal from $106.50 to $112.50 and gave the stock a “buy” rating in a report on Tuesday, March 2nd. National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Monday, March 8th. Cannonball Research reaffirmed a “buy” rating on shares of Bank of Montreal in a research note on Wednesday, April 21st. Zacks Investment Research raised Bank of Montreal from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research note on Thursday, May 20th. Finally, Barclays upped their target price on Bank of Montreal from C$125.00 to C$126.00 and gave the company an “underweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $113.07.

Hedge funds have recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. increased its holdings in shares of Bank of Montreal by 8.5% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 110,850 shares of the bank’s stock worth $9,879,000 after buying an additional 8,705 shares during the last quarter. Mufg Securities Canada LTD. acquired a new stake in shares of Bank of Montreal during the 4th quarter worth $26,146,000. Canada Pension Plan Investment Board increased its holdings in shares of Bank of Montreal by 88.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 820,771 shares of the bank’s stock worth $62,350,000 after buying an additional 385,771 shares during the last quarter. Comerica Bank increased its holdings in shares of Bank of Montreal by 4.1% during the 1st quarter. Comerica Bank now owns 36,254 shares of the bank’s stock worth $3,370,000 after buying an additional 1,415 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Bank of Montreal by 7.5% during the 1st quarter. Fiera Capital Corp now owns 3,447,013 shares of the bank’s stock worth $307,114,000 after buying an additional 241,317 shares during the last quarter. Institutional investors and hedge funds own 40.90% of the company’s stock.

Shares of BMO traded up $0.03 on Thursday, reaching $104.95. The stock had a trading volume of 605,126 shares, compared to its average volume of 802,732. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average is $97.13. Bank of Montreal has a twelve month low of $51.43 and a twelve month high of $106.88.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 26th. Shareholders of record on Tuesday, August 3rd will be paid a dividend of $0.8782 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Monday, August 2nd. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.84. Bank of Montreal’s dividend payout ratio is currently 58.12%.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. 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, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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

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