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

Bank of Montreal (NYSE:BMO) (TSE:BMO) issued its quarterly earnings results 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. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the business posted $2.08 EPS. Bank of Montreal’s revenue was up .2% compared to the same quarter last year.

Bank of Montreal Stock Performance

NYSE BMO opened at $83.30 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $84.76 and its 200-day simple moving average is $89.87. The company has a market cap of $60.75 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12.

Wall Street Analyst Weigh In

A number of analysts recently commented on BMO shares. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating in a research note on Wednesday. Royal Bank of Canada downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday. Desjardins downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, UBS Group initiated coverage on Bank of Montreal in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from 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.