CIBC Trims Altus Group (TSE:AIF) Target Price to C$51.00

Altus Group (TSE:AIF) had its price target trimmed by CIBC from C$52.50 to C$51.00 in a research note published on Friday morning, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group cut their price target on Altus Group from C$63.00 to C$59.00 and set a buy rating on the stock in a report on Monday, January 29th. Cormark raised shares of Altus Group from a market perform rating to a buy rating in a research note on Friday, February 23rd. BMO Capital Markets lifted their price target on shares of Altus Group from C$48.00 to C$51.00 and gave the company a market perform rating in a research note on Friday, February 23rd. National Bankshares increased their price objective on shares of Altus Group from C$50.00 to C$55.00 and gave the stock a sector perform rating in a research report on Thursday, April 18th. Finally, TD Securities boosted their target price on Altus Group from C$52.00 to C$56.00 and gave the company a buy rating in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of C$53.11.

Altus Group Price Performance

Shares of TSE AIF opened at C$49.07 on Friday. The company has a market capitalization of C$2.24 billion, a PE ratio of 223.05, a P/E/G ratio of 0.96 and a beta of 0.78. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 59.01. Altus Group has a twelve month low of C$35.29 and a twelve month high of C$54.18. The firm has a fifty day simple moving average of C$51.27 and a 200 day simple moving average of C$46.42.

Altus Group (TSE:AIF) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.46 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.42 by C$0.04. Altus Group had a return on equity of 1.70% and a net margin of 1.32%. The firm had revenue of C$191.57 million during the quarter, compared to the consensus estimate of C$192.55 million. On average, sell-side analysts forecast that Altus Group will post 2.0611995 EPS for the current year.

Altus Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, June 28th. Altus Group’s dividend payout ratio (DPR) is presently 272.73%.

Insider Activity at Altus Group

In other Altus Group news, Director Alex Probyn sold 11,087 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$51.84, for a total transaction of C$574,750.08. 4.05% of the stock is owned by insiders.

About Altus Group

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.