Analysts Expect Bank of Montreal (BMO) Will Announce Quarterly Sales of $4.41 Billion

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Equities analysts predict that Bank of Montreal (NYSE:BMO) (TSE:BMO) will announce $4.41 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Bank of Montreal’s earnings, with estimates ranging from $4.25 billion to $4.57 billion. Bank of Montreal posted sales of $4.53 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.6%. The firm is expected to report its next quarterly earnings report on Tuesday, December 4th.

On average, analysts expect that Bank of Montreal will report full year sales of $17.22 billion for the current financial year, with estimates ranging from $16.69 billion to $17.75 billion. For the next year, analysts expect that the business will report sales of $17.98 billion, with estimates ranging from $17.33 billion to $18.64 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Bank of Montreal.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 28th. The bank reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.07. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%.

BMO has been the topic of several research reports. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Wednesday, July 18th. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. BMO Capital Markets raised shares of Bank of Montreal to a “$78.97” rating in a research note on Wednesday, July 18th. Finally, Canaccord Genuity raised shares of Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Bank of Montreal has an average rating of “Buy” and a consensus target price of $101.00.

Shares of NYSE:BMO traded down $0.28 during midday trading on Friday, hitting $78.92. The company’s stock had a trading volume of 1,209,234 shares, compared to its average volume of 414,432. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14. The company has a market cap of $52.81 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.44 and a beta of 1.09. Bank of Montreal has a 12-month low of $73.79 and a 12-month high of $84.71.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.7386 per share. This represents a $2.95 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is presently 47.28%.

Hedge funds have recently modified their holdings of the business. Northern Trust Corp raised its stake in shares of Bank of Montreal by 3.0% in the 1st quarter. Northern Trust Corp now owns 590,792 shares of the bank’s stock valued at $44,646,000 after acquiring an additional 17,017 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Bank of Montreal by 18.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,264 shares of the bank’s stock valued at $927,000 after acquiring an additional 1,878 shares during the period. Koch Industries Inc. purchased a new stake in shares of Bank of Montreal in the 1st quarter valued at approximately $203,000. BB&T Securities LLC raised its stake in shares of Bank of Montreal by 21.7% in the 1st quarter. BB&T Securities LLC now owns 95,186 shares of the bank’s stock valued at $7,192,000 after acquiring an additional 16,990 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Bank of Montreal in the 1st quarter valued at approximately $1,579,000. 43.11% 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 three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, 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, and specialized banking programs 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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