Canaccord Genuity Group Trims Altus Group (TSE:AIF) Target Price to C$63.00

Altus Group (TSE:AIF) had its target price cut by Canaccord Genuity Group from C$66.00 to C$63.00 in a research note released on Wednesday morning, BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets set a C$59.00 price target on Altus Group in a research note on Wednesday. Eight Capital boosted their price target on Altus Group from C$50.00 to C$55.00 in a research note on Wednesday. Scotiabank boosted their price target on Altus Group from C$49.00 to C$53.00 and gave the company a sector perform rating in a research note on Tuesday, May 21st. CIBC boosted their price target on Altus Group from C$51.00 to C$53.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Finally, TD Securities cut their price target on Altus Group from C$59.00 to C$55.00 and set a buy rating for the company in a research note on Tuesday, May 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of C$57.67.

Altus Group Price Performance

Shares of TSE AIF opened at C$54.39 on Wednesday. The business’s 50 day moving average price is C$49.06 and its two-hundred day moving average price is C$48.52. The company has a market cap of C$2.49 billion, a PE ratio of 201.44, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company has a quick ratio of 1.30, a current ratio of 1.50 and a debt-to-equity ratio of 62.20. Altus Group has a twelve month low of C$35.29 and a twelve month high of C$55.93.

Altus Group (TSE:AIF) last issued its quarterly earnings data on Thursday, May 2nd. The company reported C$0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.42 by C($0.09). Altus Group had a return on equity of 2.06% and a net margin of 1.60%. The firm had revenue of C$199.54 million for the quarter, compared to the consensus estimate of C$198.85 million. On average, analysts predict that Altus Group will post 1.9806823 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. Investors of record on Monday, July 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 1.10%. Altus Group’s payout ratio is 222.22%.

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.