Zacks cut shares of Bank of Montreal (NYSE:BMO) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday morning, Analyst Ratings.Net reports. The firm currently has $64.20 price target on the stock.
Zacks has also updated their ratings on a number of other financials stocks in the last week. The firm reiterated its outperform rating on shares of Clean Diesel Technol. They have a $3.50 price target on that stock. Also, Zacks downgraded shares of EXFO from an outperform rating to a neutral rating. Their analysts now have a $6.20 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of Methanex Corporation. They have a $61.00 price target on that stock.
Bank of Montreal (NYSE:BMO) traded down 1.12% during mid-day trading on Tuesday, hitting $65.21. 111,294 shares of the company’s stock traded hands. Bank of Montreal has a 52-week low of $55.61 and a 52-week high of $71.26. The stock’s 50-day moving average is $69.25 and its 200-day moving average is $64.20. The company has a market cap of $42.021 billion and a price-to-earnings ratio of 10.41.
Bank of Montreal (NYSE:BMO) last announced its earnings results on Tuesday, December 3rd. The company reported $1.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.58 by $0.06. The company had revenue of $4.19 billion for the quarter. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that Bank of Montreal will post $6.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 26th. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Thursday, January 30th.
Separately, analysts at TD Securities initiated coverage on shares of Bank of Montreal in a research note to investors on Thursday, October 17th. They set a hold rating on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $65.69.
Bank of Montreal (NYSE:BMO) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services.
To view Zacks’ full report, visit www.zacks.com
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