Bank of Montreal (NYSE:BMO) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Bank of Montreal (NYSE:BMO) (TSE:BMO) issued its quarterly earnings data on Tuesday. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12), Briefing.com reports. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. Bank of Montreal’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS.

Bank of Montreal Trading Down 6.2 %

Shares of NYSE:BMO opened at $83.30 on Wednesday. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $60.75 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.04 and a beta of 1.12. The stock’s 50-day moving average is $84.76 and its 200-day moving average is $89.87.

Analyst Upgrades and Downgrades

BMO has been the topic of several analyst reports. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $137.00 to $124.00 in a research note on Monday, June 3rd. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. Finally, UBS Group assumed coverage on Bank of Montreal in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $124.00.

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.